Chandrababu Naidu indicted by AP govt panel for land insider trading

New Delhi, Dec 28: A Cabinet sub-committee in the Andhra Pradesh government has accused former Chief Minister Chandrababu Naidu and his son N Lokesh of insider trading. Six others too have been accused of either purchasing or helping purchase land in an area in Guntur district.

The report says that persons privy to the likely location of capital purchased lands in the capital city region just prior to a formal official declaration. The report has been submitted to Chief Minister, Jagan Mohan Reddy.

The report says that prominent persons involved in insider trading are Nara Chandrababu Naidu, Vemuru Ravi Kumar Prasad, Paritala Sunitha; Anjeneyulu, Lingamaneni Ramesh, Payavula Keshav, Lanka Dinakar, Dhulipalla Narendra, Kambhampati Ramamohan Rao and Putta Mahesh Yadav. Ravi Kumar Prasad, an NRI is a close associate of Nara Lokesh.

The report further states, "certain individuals, having the white ration cards meant for the low-income families acted as benamis and transacted in lands in the capital city/ region area on behalf of the original beneficiaries. A verification of registration records revealed that at least 4069.94 acres of land was purchased by persons privy to information of location of the capital and their suspected benamis between June 1 2014 and December 31, 2014,"