Govt to probe insider trading: Jagan

Vijayawada: Chief Minister YS Jagan Mohan Reddy told the State Legislative Assembly that they will probe insider trading and other irregularities in the capital region. 

The Chief Minister gave the assurance on request from the Chair after a detailed presentation by Finance Minister Buggana Rajendernath Reddy after tabling the Dentralisation Bill.

The TDP government leased Amaravati lands at Rs. One crore to Rs four crore per acre to Central Institutions but sold them to the henchmen at mere Rs.50 lakh per acre.

According to details furnished by the Minister, the government gave land at Rs 50 lakh for acre to VIT AP,SRM University, Amritha University (all 200 acres each), Indo UK Institute of Health (150 acres) and Medicity Health (100 acres).

Star Hotels under PPP method were provided land at Rs 1.5 crore per acre to Varun Hospitality Private Limited (four acres), Mahalakshmi Infra Ventures (four acres) and Indroyi Hotels (four acres)

Convention Centers: Amaravati Convention Center, owned by Varun Hospitality (five acres), Kosta Marina (eight acres) and Fortune Murali Resort Hotel.

He asserted that the government is not prepared to toe the real estate route unlike the previous TDP regime.

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