Andhra CID Issues Lookout Circulars Against YSRCP MP Vijayasai Reddy, Two Others In Kakinada Shares Case

The lookout circulars were issued in connection with the forcible acquisition of majority shares in Kakinada Sea Ports and Kakinada Special Economic Zone.

Amaravati: The Andhra Pradesh CID has issued a Look Out Circulars (LOC) against YSRCP MP Vijayasai Reddy and two others in connection with forcible acquisition of majority shares of Kakinada Sea Ports Limited and Kakinada Special Economic Zone (SEZ) during the previous Jagan Mohan Reddy.

The LOCs were issued by the Andhra CID on Thursday against Reddy and YSRCP MP Y.V. Subba Reddy's son Vikrant Reddy and Aurobindo pharma owner Penaka Sarathchandra Reddy. The lookout circulars have been issued as a precautionary measure to prevent all three of them from fleeing abroad. They are key accused in a case registered by the CID for forcibly grabbing shares worth Rs 3,600 crore in Kakinada Sea Ports Limited and Kakinada SEZ from Karnati Venkateswara Rao (KV Rao) during the previous government. The accused have been charged with threatening and intimidating KV Rao of framing him in illegal cases and sending him to jail if he did not hand over the shares, and thus transferred the majority of the shares to Aurobindo pharma.

Aurobindo owner Penaka Sarathchandra Reddy, who is facing charges in this case, is also an accused in the Delhi liquor case and is out on bail in that case. Similarly, Vijayasai Reddy is also an A2 accused in the YS Jagan's disproportionate assets case. He is also out on bail in the said case.