KV Rao, former CMD of Kakinada Seaports Ltd (KSPL) has lodged a complaint with the Andhra Pradesh Crime Investigation Department (CID) alleging that 41 per cent of shares in Kakinada Deep Water Port worth about ₹2,500 crore were forcefully acquired for ₹494 crore. by Aurobindo Realty & Infrastructure Pvt Ltd.
As per the complaint, Rao alleged that 41.12 per cent of shares in his family-owned Kakinada Infrastructure Holdings Pvt Ltd (KIPL) were ‘forcibly’ acquired by ARIPL. He sought an inquiry into the illegal role of YSRCP MP Vijaya Sai Reddy, his son-in-law Sarath Chandra Reddy and Y Vikranth Reddy (son of YSRCP leader YV Subba Reddy), ARIPL and the auditing firm PKF Sridhar & Santhanam LLP in the deal.
According to the complaint, the `forcible’ takeover of shares happened between May 2020 and February 2021. According to Rao, a complaint could not be lodged then as YS Jagan Mohan Reddy was the Chief Minister.
On Thursday, the AP Police issued Lookout Circulars to Vijaya Sai Reddy, Vikranth Reddy, and Sarath Reddy to prevent them from going abroad while the investigation is in progress.
The Kakinada port has been in the news after seizure of an Africa-bound cargo ship by the State Government while it was being `illegally’ loaded with 38,000 tonnes of rice of a part of which was meant for PDS.
“The Government directed officials to look into exports from the Visakhapatnam port too even though rice export from Kakinada port was two times higher than what it was from the other ports. In the ongoing investigation 729 people have been arrested and 109 vehicles seized so far,” he said on Thursday.
A through search is currently underway in the seized ship Stella under the supervision of the District Collector, he added.