AP GoM Recommends Detailed Probe into Alleged Insider Trading
A Group of Ministers of the Andhra Pradesh government on Friday recommended a detailed probe into alleged insider trading by certain TDP leaders and their kin and associates in purchasing land in Amaravati region before it was formally declared as the state capital region in 2014.
Amaravati, Dec 27 (PTI) A Group of Ministers of the Andhra Pradesh government on Friday recommended a detailed probe into alleged insider trading by certain TDP leaders and their kin and associates in purchasing land in Amaravati region before it was formally declared as the state capital region in 2014.
In its report, the GoM, headed by Finance Minister Buggana Rajendranath, "prima facie established irregular" land deals and recommended a detailed investigation either by CBI, state Crime Investigation Department or Lokayukta, Information and Public Relations Minister Perni Venkataramaiah said.
The GoM 'established' that some TDP bigwigs were involved in insider trading.
In all 4,075 acres of land was purchased in Amaravati region just before the then Chandrababu Naidu government declared it as the capital on December 30, 2014, the minister said.
The YSR Congress, which is now in power, has been alleging for long that the TDP leaders indulged in insider trading and purchased huge tracts of land to make windfall gains as the region was being made the state capital.
The TDP rebutted the claims saying only 175 acres of land was purchased between June 2 and December 30, 2014 in Amaravati region.
If (Finance Minister) Buggana comes out with a public statement on the so-called insider trading, I will definitely file a defamation case against him, senior TDP leader and five-time MLA Dhulipalla Narendra said.
At the Cabinet meeting on Friday, ministers came up with different suggestions on the kind of probe against the TDP leaders, with some asking the Chief Minister to entrust it to CBI and some to the CID.
Only a minority of us suggested a probe by Lokayukta as its a judicial body, one minister said.
The Chief Minister told the ministers that he would seek legal opinion before taking a decision on the investigation.
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