Kakinada Port stake transfer case: YSRCP MP Vijaysai Reddy appears before ED

Hyderabad, Jan 6 (PTI) YSRCP Rajya Sabha MP Vijaysai Reddy on Monday appeared before the Enforcement Directorate here in connection with a case filed against him and others for allegedly acquiring stakes in Kakinada Seaports Ltd and Kakinada SEZ Ltd through "cheating, criminal intimidation, conspiracy" for a lesser price in favour of Aurobindo Realty (since renamed as Auro Infra).

Andhra Pradesh CID (crime investigation department) police registered a case against Vijaysai Reddy, Y Vikranth Reddy, son of another party member Y V Subba Reddy, and others, for allegedly acquiring stakes in Kakinada Seaport and kakinada SEZ using 'coercive' means. Vijaysai Reddy denied the allegations.

After the FIR was filed, Reddy in a series of posts on X alleged that the case filed against him is another "cheap attempt" of the AP Government headed by Chief Minister N Chandrababu Naidu to divert attention from real issues plaguing the State. PTI GDK ADB