The CID has initiated an investigation following a complaint by Karnati Venkateswara Rao, who has alleged that shares worth ₹3,600 crore in Kakinada Port were forcibly taken from him under duress. To ensure the accused remain within the country, the CID has issued lookout notices targeting key figures, including prominent YSRCP leaders.
The individuals named in the case include YSRCP MP Vijay Sai Reddy, Vikrant Reddy (son of MP Y.V. Subbareddy), Aurobindo Group chairman Penaka Sharath Chandra Reddy, and others. According to Venkateswara Rao, he was pressured during the previous YSRCP government to transfer his shares at an undervalued price to the Aurobindo Group under the threat of fabricated legal cases and potential imprisonment.
The lookout notices are a preventive measure by the CID to keep the accused available for questioning as the investigation gains momentum. Reports suggest that the accused are planning to approach the courts to contest these notices.
As the case unfolds, the CID’s ability to present solid evidence, including proof of alleged coercion, will play a crucial role. This high-stakes investigation has captured public attention, with intense scrutiny on how the legal proceedings will develop.
This unfolding saga has become a focal point in the political and legal landscape, highlighting the complexities of corporate and governmental interactions. Stay tuned for further updates as the investigation progresses.
