The Andhra Pradesh CID has issued lookout notices against former MP Vijaya Sai Reddy, Y.V. Subba Reddy’s Son Vikranth Reddy, and Aurobindo Pharma CEO Penaka Sharath Chandra. These notices are tied to allegations of financial misconduct involving the forced transfer of shares worth ₹3,600 crore in Kakinada Seaports Limited and Kakinada SEZ from businessman Karnati Venkateswara Rao (KV Rao) during the previous YSRCP government.
The CID claims the accused coerced KV Rao into transferring his majority shares to Aurobindo Pharma through threats. The lookout notices aim to prevent the individuals from leaving the country while the investigation continues.
Vijaya Sai Reddy has vehemently denied the allegations, calling the case politically motivated. In a public statement, he accused opposition leader Chandrababu Naidu of orchestrating the case as an act of revenge. “This is nothing but Chandrababu Naidu’s desperate attempt to destabilize the YSRCP government. After spending 55 days in jail, Naidu is resorting to revenge politics. The sole aim of this fabricated case is to target me and other close followers of Jagan Mohan Reddy garu,”He stated.
Vijaya Sai also questioned the credibility of the accusations, highlighting his legal constraints. He explained that he already faces 21 cases dating back to the Congress era and requires explicit CBI court permission to travel abroad. “How can anyone claim I might flee? These allegations are baseless and reflect the desperation of those filing the complaint,” he argued.
In response to the lookout notices, Vijaya Sai announced plans to sue Chandrababu Naidu and KV Rao for defamation and criminal charges. He intends to file the cases in Delhi, accusing the complainants of spreading false information. “This is a deliberate attempt to tarnish my reputation and mislead authorities. The complainants must be held accountable for their lies,” he stated.
