VIJAYAWADA: The High Court on Monday granted interim relief to Y Vikranth Reddy, son of YSRCP leader YV Subba Reddy, in connection with the case related to the transfer of shares in Kakinada Seaports Limited (KSPL). The court extended the relief until December 24, with instructions for further orders.
Justice Vakkalagadda Radhakrishna Krupasagar also directed the Andhra Pradesh Crime Investigation Department (APCID) not to take any coercive action against Vikranth Reddy during this period. While hearing Vikranth Reddy’s anticipatory bail petition, the court permitted the complainant, KV Rao, to provide his statement.
Representing Vikranth Reddy, senior advocate T Niranjan Reddy argued that KV Rao, the complainant, is a close associate of Chief Minister N Chandrababu Naidu. He questioned the timing and motivation behind the complaint, highlighting that the alleged irregularities were brought up four years after the agreement over the KSPL share transfer.
Niranjan Reddy claimed that the case was a politically motivated act of vengeance aimed at targeting Vikranth Reddy and his father, YV Subba Reddy, due to their relationship with former CM YS Jagan.