The Andhra Pradesh CID has issued lookout circulars against YSRCP MP Vijaysai Reddy. The notices have been issued related to the Kakinada Sea Port issue.
Additionally, YV Subbareddy’s son Vikranth Reddy, and Aurobindo Pharma owner Sarath Chandra Reddy were also included in the notices. The lookout notices have been issued as a precautionary measure to prevent them from fleeing abroad.
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The case pertains to allegations involving Kakinada Sea Port Limited and Kakinada SEZ, where shares worth Rs. 3,600 crores were allegedly forcefully taken from Karnati Venkateswara Rao (KV Rao) during the tenure of the previous government.
Aurobindo Pharma is accused of acquiring a majority stake by coercing KV Rao with threats of filing false cases and potential imprisonment. KV Rao also stated that the entire scandal is planned under the tenure of the then chief minister YS Jagan Mohan Reddy. He alleges that the entire scandal was planned soon after YS Jagan came to power. The scandal also points fingers at YS Jagan that he is the mastermind behind the big fraud.
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The entire share transfer happened between May 2020 and February 2021 when YS Jagan was in power. KV Rao states that in May 2020, Vijayasai Reddy became involved, followed by other accused individuals.
The CID considers these individuals as key accused in the case and has taken the step of issuing LOCs to ensure they remain within the country while the investigation proceeds.
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The CID officials confirmed that all Indian airports have been alerted to prevent any attempt by the accused to flee the country.
