Naidu Vows to Tackle Corporate Crimes and Extortion in Andhra Pradesh

Chief Minister N. Chandrababu Naidu has expressed concern over the growing menace of corporate crimes and extortion in Andhra Pradesh. During an interaction at TDP headquarters on Wednesday, he revealed plans to study Maharashtra’s laws to address forceful acquisition of assets and shares by mafia gangs.

Naidu assured stringent action against such criminals, emphasizing the government’s responsibility to deliver justice. He cited ongoing investigations into the alleged fraudulent acquisition of shares in Kakinada Seaports Limited (KSPL) and Kakinada Special Economic Zone (KSEZ). The APCID has already filed a case against YSRCP leaders and business entities for forcibly acquiring shares from the KVR Group, based on a complaint by shareholder Karnati Venkateswara Rao.

The Chief Minister hinted at bringing such crimes under the ambit of the AP Land Grabbing (Prevention) Bill 2024 and assured that genuine land transactions would remain unaffected. Further clarity will emerge during the upcoming Revenue Sadassulu on December 6.

Naidu also responded to grievances from individuals alleging harassment by YSRCP leaders. Karempudi Abhiram from Gollapudi accused YSRCP MLC Talasila Raghuram and police officials of forcibly taking over his property worth Rs 10 crore. Similarly, G. Madhu from Chandragiri reported that former minister N. Sankara Narayana occupied his properties and that police colluded against him.

Naidu promised thorough investigations into these cases, asserting his government’s commitment to curbing such injustices and ensuring accountability.