AP port stake transfer case: LOC 'issued' against YSRCP's Vijaysai Reddy, MP slams "ulterior motive"
Lookout Circular (LOC) has been issued against YSRCP MP Vijaisai Reddy by the Andhra Pradesh police, which had booked him days ago in connection with the Kakinada Seaport and SEZ share transfer case. The senior leader said the action has been taken with an «ulterior motive.» Besides him, the Andhra Pradesh CID has issued LOC against Y Vikranth Reddy, son of another party member Y V Subba Reddy, Sarath Chandra Reddy, the Non-executive director of Aurobindo Pharma Ltd, highly placed government sources said on Friday.
Earlier this week, besides Vijaysai Reddy, Vikranth Reddy and Sarath Chandra Reddy, PKF Sridhar & Santhanam LLP, Aurobindo Realty and others were booked by the Andhra Pradesh CID for allegedly using 'coercive' means to acquire stakes in Kakinada Seaport and kakinada SEZ,
According to a complaint filed by Karnati Venkateswara Rao, Chairman and Managing Director of KSPL, his family-owned firms' stakes of 41.12 per cent in KSPL and 48.74 per cent in KSEZ estimated to be worth over Rs 3600 crore were acquired in 2020-21 for a little over Rs 500 crore by Aurobindo Realty (renamed as Auro Infra) at the behest of former Chief Minister and YSRCP supremo YS Jagan Mohan Reddy.
Reacting to the LOC, Vijaysai Reddy, questioning the need for issuing the circular, wondered how could he travel abroad when he had to seek permission from a CBI court in Hyderabad as he was an accused in several cases.
«That is the reason I am saying that Naidu's (Andhra CM Chandrababu Naidu) intelligence is diminishing. There are 21
