Amaravati ‘insider trading’, other acts of Chandrababu Naidu government under SIT lens

The move follows a report submitted by the Cabinet Sub-Committee constituted in June last to review major policies, projects, and administrative actions taken since division of the State in 2014.
TDP chief N Chandrababu Naidu (File Photo | EPS)
TDP chief N Chandrababu Naidu (File Photo | EPS)

VIJAYAWADA: The State government on Friday night constituted a 10-member special investigation team (SIT) to investigate irregularities committed during the erstwhile Chandrababu Naidu regime, in particular the alleged insider trading in the capital Amaravati region.

The move follows a report submitted by the Cabinet Sub-Committee constituted in June last to review major policies, projects, and administrative actions taken since division of the State in 2014.

In its report submitted in December, the panel concluded that TDP leaders, including Naidu, his son Lokesh, and their associates privy to privileged information bought up to 4,000 acres in the capital region in six months before the announcement of the location of the capital.

The SIT will be headed by 2006-batch IPS officer Dr Kolli Raghuram Reddy, DIG (Intelligence). The GO on the SIT, citing the direction of Speaker Tammineni Sitaram to the government in the last Assembly session to conduct a comprehensive probe into the alleged insider trading, said accordingly, the government, after careful examination, decided to form the investigation team.

As per the terms of reference, the SIT will enquire, register, investigate and conclude the probe as per the CrPC and function as a nodal single-point contact, including for sharing of information and coordination, with State and Central investigating agencies.

It will have the powers to summon any person or officer to record his/her statement under the CrPC and similarly, it can seek any record. All departments and officers have been directed to provide assistance to the SIT. Effectively, it will function as a police station.

Interestingly, the GO did not specify any time-frame for the SIT to complete its probe. The formation of SIT is certain to raise the hackles of the TDP, which is already up in arms against the YSRC for its alleged vindictive politics.

Naidu and other TDP leaders have denied any wrongdoing and dared the Jagan government to order a CBI probe.

The CID has already registered cases against TDP leaders and former ministers Prathipati Pulla Rao and P Narayana in the alleged insider trading episode.

TNIE first to report on investigation team

CM YS Jagan Mohan Reddy, in an exclusive interview with TNIE published on February 11, had said an SIT would be constituted to probe insider trading in Amaravati.

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