December 5, 2024 – Amaravati
The Andhra Pradesh CID has issued a Lookout Circular (LOC) against YSRCP MP Vijayasai Reddy. Alongside him, the LOC has been issued for YSRCP MP Y.V. Subbareddy’s son, Vikrant Reddy, and Aurobindo Pharma owner Penaka Sarath Chandra Reddy. This precautionary step aims to prevent them from fleeing the country.
This action is linked to allegations concerning the Kakinada SEZ (Special Economic Zone) shares issue. The case alleges that shares worth ₹3,600 crore in Kakinada SEZ and Kakinada Seaports Limited were forcibly taken from Karnati Venkateswara Rao (K.V. Rao) during the previous YSRCP government. The CID has identified the three as key accused in this case.
According to the allegations, K.V. Rao was threatened with false cases and imprisonment to coerce him into transferring the shares. This reportedly resulted in a majority of the shares being handed over to Aurobindo Pharma. The CID has cited this as the primary charge against the accused.
The LOC ensures that Vijayasai Reddy, Vikrant Reddy, and Sarath Chandra Reddy remain in India for further investigation into the matter. The CID’s action underscores the seriousness of the case and its potential impact on Andhra Pradesh’s economic affairs.
