Andhra Pradesh police have filed a case against YSRCP MP V Vijaysai Reddy and Y Vikranth Reddy for allegedly using coercive methods to fraudulently acquire stakes in Kakinada Seaports Ltd and Kakinada SEZ Ltd. The accusations include cheating, criminal intimidation, and conspiracy, with the stakes reportedly sold at a low price to Aurobindo Realty, now Auro Infra. Senior YSRCP leader Kakani Govardhan Reddy has dismissed the allegations as "political vendetta."
Kakinada Seaports MD KV Rao has filed an FIR against former Andhra CM Jagan Mohan Reddy and YSRCP MP Vijay Sai Reddy for allegedly orchestrating the illegal takeover of Kakinada Port shares valued at thousands of crores. The complaint claims that 40% of the port was acquired for Rs 494 crore, significantly below its worth, and highlights accounting irregularities that deprived the government of Rs 1,000 crore in revenue.
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