Land Scam: Former CM Naidu faces allegations for insider trading
Land Scam: Former CM Naidu faces allegations for insider trading
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Political scuffle is getting higher in the state of Andhra. A Cabinet Sub-Committee (CSC) organized by the Andhra government to look into the alleged irregularities under the government of Chandrababu Naidu's TDP, presented its report to the High Court on alleged "insider trading" in the land transactions of Amaravati capital region. The Sub-Committee is said to have considered several prominent businessmen and politicians of the TDP, including former ministers, and alleged insider trading in the land transactions between June 2014 to December 2014. 

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The CSC, directed by state Minister for Finance Buggana Rajendranath Reddy, in its affidavit, alleged that at least 4,070 acres were acquired by persons who have prior information about the capital coming up in the Amaravati region and bought pieces of land in Guntur and Krishna districts for low rates from farmers before the capital notification was circulated. The CSC has also alleged that the persons wrongfully and illegally benefitted by owning the land on the fringes of capital as they knew the location. It also pointed out that large amounts of land were fraudulently surrendered through Land Pooling Scheme (LPS).

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Former Chief Minister N Chandrababu Naidu, former Minister Paritala Sunitha, Public Accounts Committee chairman and MLA Payyavula Keshav, NRI Vemuru Ravi Kumar Prasad, former MLAs G V S Anjaneyulu and Dhulipalla Narendra, Kambampati Rammohan Rao and several others were named in the affidavit. The Sub Committee has also further alleged that the purchasing of lands violated provisions of the  AP Assigned Lands (Prohibition of Transfer) Act, 1977 and SC/ST (Prevention of Atrocities) Act, 1989.

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