Date: March 12, 2025
CID Notices Served to Sai Reddy: What’s Next for YSRCP Leader?
Sai Reddy’s Retirement from Politics
Former YSR Congress Party (YSRCP) leader Vijay Sai Reddy, once a close associate of Jagan Mohan Reddy, announced his political retirement a few months ago. Since then, he has been staying away from active politics and maintaining a low profile CID serves notices to Vijay Sai Reddy.
However, his past dealings are now coming under legal scrutiny, and the latest developments suggest that he could be facing serious trouble.
CID Serves Notices to Sai Reddy
The Andhra Pradesh CID has served the first round of notices to Vijay Sai Reddy in connection with the Kakinada Port shares hijack case. He has been summoned to appear for investigation on March 12.
This marks the beginning of legal action in what is considered one of the biggest financial irregularities in Andhra Pradesh’s political history.
What Is the Kakinada Port Shares Controversy?
The case revolves around a complaint filed by Karnati Venkateswara Rao (K.V. Rao), Chairman and Managing Director of KSPL (Kakinada Seaports Limited). According to the complaint:
- After YSRCP came to power in 2019, the government initiated audits into KSPL’s financial records.
- These audits allegedly uncovered ₹1,000 crore in revenue suppression between 2014-15 and 2018-19.
- Using these audit findings, Sai Reddy and his associates allegedly pressured K.V. Rao to transfer 41.12% of KSPL shares, worth ₹2,500 crore, for just ₹494 crore.
- Similarly, a 48.7% stake in KSEZ (Kakinada SEZ), valued at ₹1,109 crore, was allegedly acquired for just ₹12 crore.
CID Begins Investigation Into the Case
The Andhra Pradesh CID has now taken up the case and launched a preliminary investigation. Several top YSRCP leaders, including Vikrant Reddy and Sai Reddy, are named in the complaint.
With CID’s legal action gaining momentum, more YSRCP leaders could soon come under the investigative scanner.
Sai Reddy’s Role in Jagan’s Financial Affairs
Vijay Sai Reddy, a former auditor for Jagan Mohan Reddy, has deep insights into the financial dealings of both Jagan and the previous YSRCP government.
If he decides to cooperate with investigators, it could lead to major revelations about financial irregularities during the YSRCP regime. This could put the entire YSRCP camp on edge, especially Jagan’s close associates.
CID Notices Served: What’s Next for Sai Reddy?
With CID actively pursuing the case, the question remains: Will Sai Reddy defend himself, or will he reveal inside details that could shake YSRCP?
As the investigation unfolds, this case could become a political and legal storm in Andhra Pradesh.
🔥 What do you think? Will Sai Reddy’s legal troubles impact YSRCP’s future? Share your thoughts below!