Andhra Pradesh

YSRCP alleges of large scale insider trading in Capital region

Ambati Rambabu

Ambati Rambabu  

Ambati releases videos of corruption involved in LPS, land allottments

In a damning revelation of the alleged corruption in the Capital region during the Telugu Desam Party regime, the YSRCP government on Thursday released videos of alleged “insider trading” that reportedly took place in Amaravati during 2014-19.

Senior YSRCP leader and Sattenapalli MLA Ambati Rambabu, along with MLA T. Prakash Reddy, released the videos at a press conference in YSRCP Central Office in Tadepalli.

Mr. Rambabu alleged that insider trading had taken place during June-December 2014, during which the TDP leaders and their “benamis” bought land to the extent of 4,069.65 acres in the region consisting of Thullur, Mangalagiri and Tadepalli mandals.

Narrating the sequence of events, the video showed how prior to the announcement made by then Chief Minister N. Chandrababu Naidu in Assembly on September 4, 2014, TDP leaders had brought land at throw away prices from unsuspecting farmers in the three mandals.

Land purchase

The period during June-December 2014 saw lands being purchased on a large scale. In June, 2014, 530 acres was registered, 685.34 acres in July, 353 acres in August, 567.26 acres in September, 564.91 acres in October, 836.81 acres in November and 531.90 acres in December, Mr. Rambabu said.

A month after forming the government, Heritage Foods bought 14.22 acres in Kantheru village in Tadikonda mandal, followed by the then chief whip Payyavula Keshav, who bought 15.30 acres in Inavolu village, Palle Raghunatha Reddy who purchased 7.56 acres in Thullur.

Kommalapati Sridhar (former MLA) who bought 68.60 acres through Abhinandana Real Estate firm, Lanka Dinakar and former Minister Paritala Sunitha and her son, were also among those who bought lands at cheaper rates even before the announcement on the location of the Capital was made, the YSRCP leader alleged.

Most of TDP leaders from Guntur were also among those who purchased vast tracts of lands as part of insider trading, they alleged.

Vemuri Ravi Kumar, benami of former Minister Nara Lokesh, also bought 62.77 acres in the region, Mr. Rambabu alleged.

In another startling revelation, 800 white ration card holders from AP and 60 from Telangana also bought lands.

Master plan

Mr. Rambabu alleged that irregularities took place in the finalisation of master plan too. The CRDA finalised that the Capital would come up in 217 sq.km and later that was revised to 391.5 sq.km on the basis of a master plan made by Singapore consultant firm. In February 2016, the then government again released a notification confining the Capital area to 217 sq.km and this was done to benefit those who bought lands just outside the core Capital region, Mr. Rambabu alleged.

The zoning of areas by CRDA was also done to benefit a few individuals. Lingamaneni Ramesh, who heads the Lingamaneni Estates, Murali Mohan, and others were among those who benefited by the zoning. The then government realigned the zoning to ensure that their properties are outside the Inner Ring Road, he alleged.

Mr. Rambabu said that all these irregularities would be further probed by investigating agencies and charges would be filed against all the accused.

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Printable version | Feb 17, 2020 12:46:57 AM | https://www.thehindu.com/news/national/andhra-pradesh/ysrcp-alleges-of-large-scale-insider-trading-in-capital-region/article30464732.ece

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