Hyderabad: TDP's Palakurthi Tikka Reddy booked for duping businessman

Telegu Desam Party (TDP) leader Palakurthi Tikka Reddy has been arrested on Monday for allegedly duping a Karnataka businessman to the tune of Rs 13 crore. A case was registered based on the complaint of Shivraj C Agadi against 52-year-old Reddy. Agadi is the Managing Director of C Y Agadi Rice Traders from Karnataka, which deals in buying and selling of spoiled rice to poultry industries and breweries.

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Reddy approached Agadi with an offer

According to Cyberabad Police Commissioner VC Sajjanar, Reddy and his two associates allegedly approached Agadi with an offer to sell two lakh tons of spoiled rice. Agadi alleged that Reddy claimed to have the stock of spoiled rice stocked at Food and Civil Supplies godown that belong to the state government in Kurnool Town.

The complainant claimed that Reddy and his associates took him to Kurnool to show him the stock, upon which Agadi made a payment of  Rs 12.85 crores on the specific instructions of Reddy.

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Fabricated challan to cheat the businessman

The police stated that Reddy delayed the supply of the spoiled rice when it was demanded by Agadi. The businessman later found out that Reddy had presented a fabricated challan and realised he had been cheated. "Reddy had presented a challan claiming that he had paid 16 crores to the Government of Andhra Pradesh for storage of the spoiled rice", the complainant claimed.

Reddy has been booked under Section 406, 420, 468, 471 120(B) of the Indian Penal Code. The police have also seized a car and two cell phones from Reddy's possession. The 52-year-old politician had contested from Mantralayam assembly constituency in the assembly elections of Andhra Pradesh, held in April 2019. Reddy had contested against Y Bala Nagi Reddy of Yuvajana Sramika Rythu (YSR) Congress Party and Boya Lakshman of Jana Sena Party, however, the TDP candidate lost to Y Bala Nagi Reddy.

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(With inputs from ANI)