Insider trading: TDP leaders bought 4,070 acres in Amaravati: Minister
Andhra Pradesh

Insider trading: TDP leaders bought 4,070 acres in Amaravati: Minister

Agency News

Amaravati, Jan 20 : Andhra Pradesh Minister for Finance and Legislative Affairs Buggana Rajendranath Reddy said that the Telugu Desam Party (TDP) leaders and their relatives purchased 4,070 acres of land in the capital region area here which will come under “insider trading”.

Making a statement in the house during the special session of Assembly which began on Monday, the Minister said that former Chief Minister N Chandrababu Naidu and his leaders indulged in land scam in the capital region area. “After purchasing lands in the capital region area, Mr Naidu announced that the capital city was coming up in Amaravati” he flayed.

Mr Reddy said the Heritage foods, owned by Mr Naidu’s family, purchased 15 acres of land at Kanteru in Capital region, by violating all the norms. He said that TDP MLAs Payyavula Keshav, Gorantla Butchaiah Chowdary, former MP Murali Mohan, Vemuru Ravikumar, L Dinakaran, GVG Anjaneyulu, Nara Lokesh, Dammalapati Sridhar, former Minister Paritala Sunita’s son, former TTD Chairman Putta Sudhakar Yadav’s son purchased lands in the capital region area. The Minister read out when they purchased lands and how they violated norms.

“The purchasing lands in the capital region by the TDP leaders and their binamies comes under insider trading,'' he said. Mr Reddy said that the Chandrababu Naidu headed TDP government allocated lands without following any rules and guidelines. About 1600 acres of lands were allocated to 125 organizations, he said. The Central government organisations including the Navy, SBI and CAG were allocated lands at high price while some private organisations were given lands at a reasonable price.

About 200 acres of land was allocated to a private educational institution at a cost of Rs.50 lakh per acre, at the same time, the land was given to some Central institutions, including the Indian Navy at Rs.1 crore to Rs.4 crore. “Without following guidelines, lands were allocated at they liked in the capital region by the TDP government” he said. After the Finance Minister’s statement on the ‘insider trading’ in the purchase of lands in the capital region, Speaker T Sitaram directed Chief Minister Y S Jagan Mohan Reddy to order for a comprehensive inquiry on the alleged land purchase scam for which the Chief Minister has given his consent. (UNI)