Telangana High Court reserves orders on Subba Reddy’s petition

HYDERABAD: Telangana High Court Chief Justice Ujjal Bhuyan on Friday reserved orders on a plea by Tirumala Tirupati Devasthanams (TTD) chairman YV Subba Reddy, seeking to overturn the CBI’s quid pro quo case against YS Jagan Mohan Reddy. 

YSRCP MLA Vasantha Krishna Prasad, YV Subba Reddy and others have been accused by the CBI of scheming to get prime land for the Indu Projects from the former Andhra Pradesh Housing Board (APHB) under the guise of developing housing projects.

According to petitioner’s counsel, Subba Reddy was not involved in the alleged scheme. He claimed that the petitioner was wrongfully accused by the CBI solely because he is a co-brother of former chief minister late YS Rajasekhara Reddy.

CBI counsel informed the court that the APHB had granted Indu Shyam Prasad Reddy access to 70 acres of property in various locations around Hyderabad when YS Rajasekhara Reddy was in office.

Villas, MIG and LIG houses, among other types of residences, were permitted to be built on the land. In spite of Indu Projects’ lack of credentials, its creator Shyam Prasad Reddy employed Krishna Prasad’s Vasantha Projects as a special purpose company to acquire the housing projects.

CBI counsel further said that Subba Reddy and Krishna Prasad offered their families a lesser price for the villas constructed at the Gachibowli site.