VIJAYAWADA: Andhra Pradesh Crime Investigation Department (APCID) is likely to summon Y Vikranth Reddy, son of YSRC MP YV Subba Reddy, as part of its probe into the alleged irregularities in the transfer of shares of Kakinada Sea Port Ltd (KSPL) and Kakinada SEZ.
APCID sources said Vikranth’s statements are expected to shed light on the alleged multi-crore fraud involving the forceful acquisition of KSPL shares from the KVR Group by Aurobindo Realty.
The accused is charged under relevant sections for fraud and blackmailing KV Rao with fake audit reports. The reports claimed tax evasion of `965 crore, leading to the transfer of 41.12% of shares to Aurobindo Realty. The tax liability was later revised to `9.03 crore post-transfer, raising further suspicion.
CID has questioned Sundar and Viswanath of PKF Sridhar and Santhanam LLP, whose audit reports were allegedly used to coerce KV Rao into transferring shares. It’s directors, Prasanna and Aparna, have also been summoned. With Vikranth Reddy’s anticipatory bail hearing scheduled for December 24, the CID is seeking his custody, stating that he has not appeared for questioning for two weeks.
Meanwhile, the ED is probing money routing of `494 crore used for the share purchase. Notices have been issued to YSRCP MP Vijayasai Reddy, his son-in-law Sarath Chandra Reddy, and directors of Aurobindo Realty. Both the CID and ED are scrutinising PKF Sridhar and Santhanam LLP for their role in the issue.