Vizag: Ex-minister Amarnath questions Nara Lokesh on land allocation to URSA Technologies

Visakhapatnam: Former Minister Gudivada Amarnath has raised concerns about the controversial allocation of prime land to URSA Technologies in Visakhapatnam.

In a strongly worded response to Minister Nara Lokesh’s recent claims, Amarnath questioned the opaque dealings surrounding the allocation of 3.5 acres at IT Hills, Visakhapatnam, at Rs. 1 crore per acre, and 56.36 acres at Kapuluppada at Rs. 50 lakh per acre. “Why has no Government Order (GO) been issued to substantiate these claims? Why is this announcement coming nearly 50 days after this scam surfaced?” Amarnath asked.

Amarnath highlighted a series of irregularities, noting that URSA Technologies, registered in the USA on September 27, 2024, and launched in Hyderabad on February 12, 2025, operates from a modest middle-class apartment with a paid-up capital of just Rs. 1 lakh and an authorized capital of Rs. 10 lakh.

“How does a company with such minimal financial backing secure land worth Rs. 3,000 crore? What projects or technologies has URSA delivered to justify this allocation?” he demanded. He further pointed to the rapid approvals granted by the State Investment Promotion Board (SIPB) on April 10, 2025, under the chairmanship of Chief Minister Chandrababu Naidu, followed by cabinet approval on April 15, 2025, questioning the undue haste and favoritism.

The former minister also raised concerns about URSA’s credibility. Citing former Vijayawada MP Kesineni Nani, he said URSA’s Satish Abburi defrauded investors through 21st Century Ventures, along with Vijayawada MP Kesineni Chinni. “Why has no investigation been ordered into these serious accusations? Why the silence on claims that 60 acres of prime land, valued at Rs. 50 crore per acre, were handed over to a dubious company?” Amarnath asked the government to shield its associates.

Amarnath demanded that Minister Lokesh release all relevant files related to the URSA deal and agree to an impartial inquiry led by a sitting judge. “If there is nothing to hide, make the documents public and face a judicial probe,” he asserted, warning that attempts to suppress or destroy evidence, as seen in past scandals, will not go unnoticed.