Amaravati: ED Registers Cases Against 7 People Involved In Insider Trading

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AMARAVATI: The Enforcement Directorate has taken the case from CID on insider trading in Amaravati region has now registered cases against seven people who had purchased lands in Amaravati region under the names of white card holders.

The investigating body has found several irregularities and unfair practices done in Amaravati state capital done during the previous Telugu Desam Party (TDP) president Chandrababu Naidu’s regime. The ED has collected key evidences against the seven persons involved in the probe. The names include Nagamani, Narasimha Rao, Anuradha, Kondalarao, Bukhyaanaagamani, Abdul and Jamedar. However, a case has already been registered against former ministers Narayana and Pattipati Pullaravu.

ED found that these people had generated fake documents in the name of poor people who didn't not have a PAN card.

The ED has speed up their investigation and filed a case under crime number 3/2020 with details from CID. They are focusing on fake documents created that 797 white card holders who had purchased 761.34 acres in the open market at Rs 38.56 crore (registration value) during TDP's regime.

It found that out of 797 people, 268 were PAN card holders and 529 were non-residents, Abhishek Goyal, Joint Director (JD) of the ED Haidabad Zonal Office, informed AP CID officials that the details of the white card holders are being collected.

The ED has taken up the investigation after cabinet sub-committee found out that TDP leaders have bought nearly 4,075 acres of land in the Amaravati region even before formally announcing Amaravati as the state capital, and now the CID has started investigating politicians and other persons involved in this case.

Even CID has identified that white cardholders has 720 acres of land in Amaravati’s mainlands.

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