Insider trading: Naidu asked to appear before CID on Mar 23

The duo has been summoned in connection with their role in the alleged insider trading in Amaravati land scam.

The CID served them notices in Hyderabad and asking them to appear before the CID regional office in Vijayawada. Naidu and Narayana have been accused of indulging in insider trading in the land parcels at Amaravati.

CID officials said that both Naidu and Narayana were also booked under the SC/ST (Prevention of Atrocities) Act. So far, the CID has registered close to 20 cases against TDP leaders and real estate developers alleging that they were involved in insider trading.

One of the major charges against Naidu pertains to the alienation of assigned lands, which form part of the aggregated 25,000-30,000 acres. The investigation has revealed that approximately 500 acres of assigned land had been purchased by different persons after the announcement of the capital city.

The new notices relate to a fresh FIR registered against Naidu and Narayana on March 12 in the case. The notices were issued under Section 41 of CrPC. The FIR was registered based on a complaint filed by Alla Ramakrishna Reddy, YSRCP legislator from Mangalagiri, on February 25.

A DSP-rank officer, who is investigating the complaint, submitted a preliminary report on March 12. Naidu is booked as accused No.1 in the FIR. Narayana is listed as accused No. 2.

The CID has invoked Sections 120 B (criminal conspiracy), 166 (public servant disobeying law), 167 (public servant framing an incorrect document), and 217 (public servant disobeying the direction of law) of IPC, Section 3 (1) (f), (g) of SC and ST (POA) Act and also Section 7 of AP Assigned Land Act 1977.

The YSRCP MLA in his complaint alleged that he had received representation from a few residents of his constituency that some of the influential persons of the then TDP government had cheated them by taking away their land illegally.

The FIR claimed that the complainant Ramakrishna had verified the orders issued by the then government and found several irregularities committed by the accused causing an irreparable loss to the SC and ST community and weaker sections.

After the additional director-general of police (CID) received the complaint, he had appointed DSP S Surya Bhaskar Rao to conduct a preliminary inquiry and submit a report. The preliminary report stated that cognizance of offence was carried out and based on that, the ADGP, CID, ordered to register a case.