Andhra Assembly Passes Resolution To Carry Out Probe On 'insider Trading In Amaravati'


The Andhra Pradesh Assembly on Wednesday passed a resolution to carry out a comprehensive probe into the alleged insider trading in Amaravati Capital area

Written By Misha Bhatt | Mumbai | Updated On:

A day after the Andhra Pradesh government passed the 3-state capital resolution, the state Legislative Assembly on Wednesday passed a resolution to carry out a comprehensive investigation on 'insider trading in Amaravati capital area'. The 'insider trading' issue allegedly involves various TDP leaders including former Andhra Pradesh Chief Minister  N Chandrababu Naidu. 

The resolution was read out by Andhra Pradesh Home Minister Mekathoti Sucharitha in the Assembly and comes almost a month after the YSRCP government received a report by the Andhra Pradesh cabinet sub-committee in connection with the case. The subcommittee's detailed report was submitted to Chief Minister YS Jagan Mohan Reddy, as the state government was considering to order a CBI, CBCID or Lok Ayukta inquiry into the matter.

READ | HISTORIC: Jagan govt approves Andhra's 3 capitals- Visakhapatnam, Kurnool & Amaravati

YSRCP alleges TDP of misusing power 

Time and again, the ruling YSRCP has been alleging its predecessor TDP of misusing power, indulging in insider trading and gaining amassed wealth through corrupt practices in the name of Amaravati capital region. The sub-committee report also has a mention of Vemuru Ravi Kumar Prasad, an NRI, who is a close associate of TDP leader Nara Lokesh, former minister Paritala Sunita, former MLA GVS Anjaneyulu, realtor Lingamaneni Ramesh, and TDP MLA Payyavula Kesav who were allegedly involved in insider training in the capital region.

The report also named Lanka Dinakar (presently in BJP), and TDP leaders Dhulipalla Narendra, Kambhampati Ramamohan Rao, and Putta Mahesh Yadav.

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The Committee in its report alleged that "while choosing the capital area and defining its boundaries, a select group of people benefitted. People privy to the likely location allegedly purchased land in the region just before the formal declaration".It also listed out how the lands in the capital region were procured by benames of highly placed individuals."There were many irregularities in the land allotment and various laws were violated. Further, the then government cheated and intimidated assigned landholders in the land pooling scheme zone."

READ | AP: TDP Chief Chandrababu Naidu released after being detained outside state assembly

READ | 'Black day': Chandrababu Naidu detained as Andhra Pradesh gets three capitals

(With inputs from ANI) 

(Image Credit: ANI) 

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