HYDERABAD: The
CBI said that it was only after the entry of YV
Subba Reddy
, co-brother of AP former chief minister
YS Rajasekhara Reddy
, into Indu Eastern Provind Ltd-erstwhile AP Housing Board agreement, the state had resorted to additional illegal allotment of 15 acres of prime land in Kukatpally to Cyberabad Hi-tech Integrated Township Development Corporation (CIDCO).
CIDCO was a special purpose vehicle, which was floated by businessman Indu Syam Prasad Reddy to misuse the housing board land.
CBI counsel K Surender said this before Justice Ujjal Bhuyan while arguing against providing relief to V
Krishna Prasad, one of the accused in the Indu-housing board chargesheet, filed by the CBI as part of its investigation in the quid pro quo case.
Krishna Prasad’s Vasantha Projects was a partner in the alleged development plan. Both
Krishna Prasad and Subba Reddy transferred villas built on a four-acre housing board land at Gachibowli to their associates, the CBI counsel said
“Vasantha Projects chartered accountant himself said this before the CBI as a witness,” Surender said. Syam Prasad, the main accused in the case, was the prime beneficiary as he got nearly 100 acres of housing board land in Bandlaguda, Gachibowli and Kukatpally. He also got 250 acres of land at Shamshabad in the Indu Tech Zone case and 9,000 acres in Anantapur in the Lepakshi Knowledge Hub case. The judge reserved his orders.
Explore the yearly horoscope 2025 for Aries, Taurus, Gemini, Cancer, Leo, Virgo, Libra, Scorpio, Sagittarius, Capricorn, Aquarius, and Pisces zodiac signs. Spread love this holiday season with these New Year wishes, messages and quotes.