Lookout Circular Issued Against YSRCP MP Vijayasai Reddy in ₹3,600 Crore Forced Share Takeover Case
A lookout circular has been issued against senior YSRCP leader and Member of Parliament (MP), Vijayasai Reddy, following allegations of a forced takeover of shares valued at ₹3,600 crores from Kakinada Seaports Limited and Kakinada SEZ. The Andhra Pradesh Criminal Investigation Department (CID) registered a case based on a complaint filed by Karnati Venkateswara Rao (KV Rao), accusing Reddy and his associates of coercing him into transferring a majority of the shares to the Aurobindo Group during the previous government’s tenure.
Along with Vijayasai Reddy, lookout circulars have also been issued against his son-in-law, Sharath Chandra Reddy, and Vikrant Reddy, the son of Y.V. Subba Reddy. The central allegation centers around the forced transfer of these shares under duress, raising serious questions about the legality of the transactions.
The case has garnered attention due to its high-profile nature, involving prominent figures connected to the political landscape and their alleged involvement in financial irregularities. The CID’s investigation is ongoing, and further developments are anticipated.
