Noted industrialist Nimmagadda Prasad is arrested during his current holiday trip in Serbia. The arrest was made based on a complaint made by the Ras Al Khaima company representatives with regard to the VANPIC lands issue and CBI cases. Nimmagadda Prasad is a close associate of CM Jaganmohan Reddy. He also faced investigation in the quid pro quo cases filed by the Central Bureau of Investigation.
The YCP MPs quickly reacted and started lobbying with the Centre for the immediate release of Prasad. They even submitted a letter to the Union government for ensuring his safe return.
In the past, the CBI charged Prasad with investing Rs 854 cr in the Jaganmohan Reddy related companies in exchange for 22,000 acres land in the port-based Vadarevu Nizampatnam Industrial Corridor. All this lands acquisition and project approval were given during the Rajasekhar Reddy government. The VANPIC and other allegations led to the questioning and arrest of minister Mopidevi Venkataramana and also the resignation of former minister Dharmana Prasada Rao.
