Synopsis
On March 12, former Rajya Sabha MP, V. Vijayasai Reddy, faced questioning by the CID in connection to the Kakinada Seaports case. This follows allegations of unlawful acquisition of shares worth thousands of crores during YSRCP's tenure.Key Takeaways
- Vijayasai Reddy appeared before the CID for questioning.
- He resigned from YSR Congress Party earlier this year.
- Allegations involve shares worth Rs 3,000 crore.
- Case filed under multiple sections of the law.
- Reddy plans to file a defamation suit against CM Naidu.
Vijayawada, March 12 (NationPress) Former Rajya Sabha MP, V. Vijayasai Reddy, arrived at the office of the Andhra Pradesh Criminal Investigation Department (CID) on Wednesday for interrogation regarding the significant Kakinada Seaports case.
Responding to the notice from the CID, the ex-MP reached their office at 11 a.m. for the questioning.
Although he was accompanied by his attorney, the lawyer was denied entry into the office.
In January, Vijayasai Reddy resigned from the YSR Congress Party (YSRCP) and vacated his MP position.
A case was filed by the CID against him and others last year following a complaint from Karnati Venkateswara Rao (KV Rao), the former chairman and managing director of Kakinada Seaports Limited (KSPL), who claimed that shares valued at approximately Rs 3,000 crore in KSPL and Kakinada SEZ were unlawfully taken while the YSRCP was in control.
The complaint states that 40 percent of Kakinada Port, appraised at Rs 2,500 crore, was reportedly taken for just Rs 494 crore.
In a similar manner, 49 percent of Kakinada SEZ, valued at Rs 400 crore, was allegedly acquired for a mere Rs 12 crore.
In light of the complaint, the CID lodged a case against YSRCP MP, YV Subba Reddy’s son, Vikrant Reddy, along with Aurobindo Pharma non-executive director Penaka Sarathchandra Reddy, Vijayasai Reddy, and others.
The case was registered under Sections 506, 384, 420, 109, 467, and 120(b)34 of the Bharatiya Nyaya Sanhita (BNS).
In his allegation, KV Rao claimed that Vikrant Reddy and others coerced and intimidated him by wrongfully implicating him in criminal cases and threatening him with imprisonment unless he surrendered the shares.
Earlier in January, Vijayasai Reddy had appeared before the Enforcement Directorate (ED) concerning the same matter, following the issuance of an Enforcement Case Information Report (ECIR) based on KV Rao’s complaint.
Rejecting the accusations, Vijayasai Reddy declared in December 2024 that he intends to file a defamation suit against Chief Minister N. Chandrababu Naidu and KV Rao.
He alleged that CM Naidu has been plotting to damage his reputation by utilizing KV Rao as a pawn to bring forth fabricated allegations.
Vijayasai Reddy questioned the timing of KV Rao’s accusations, noting that he has spent much of his time abroad and only chose to speak out after remaining silent for over four years.
