Case filed against two former Andhra ministers for insider trading

A case has been filed against former Andhra Pradesh ministers Prathipati Pulla Rao and P Narayana as well as former Venkatayapalem sarpanch Bellamkonda Narasimha Rao for alleged insider trading, police said on Thursday.

"A case has been filed against former ministers P Narayana, P Pullarao and Venkatayapalem former sarpanch B Narasimha. One Dalit woman from Venkatayapalem village had filed a complaint that she was cheated and her land was purchased in an unfair way," CID SP Mary Prasanti told reporters here.

According to the FIR, TDP leader Narasimha Rao threatened and cheated the Dalit woman's family members by obtaining their signatures on some papers, created false record to occupy their agricultural land with the support of TDP ex-ministers.

A case has been filed under Section 420 (cheating and dishonestly inducing delivery of property), 506 (criminal intimidation) and 120B (criminal conspiracy) of the Indian Penal Code (IPC) and Section 3(1)(g)(p) of SC/ST (Prevention of Atrocities) Amendment Act.

"As many as 797 white cardholders bought lands worth Rs 220 crores. We are inquiring about those behind the curtain and pushed them forward. Four teams are constitutes," police said.

In the investigation, police said that it was revealed that 131 persons below poverty line families bought 129 acres of land.

According to police, 43 white cardholders bought 40 acres in Pedda Kakani village. 188 BPL families registered 190 acres of land in Tadikonda village. 238 BPL persons bought 242 acres of land in Tulluru, 148 BPL persons bought 133 acres of land in Mangalagiri and 49 white ration card holders bought 14 acres in Tadepalli.

YSRCP has, on several occasions, accused the former TDP government in the state of insider trading over selecting Amaravati as the capital.