The YSRCP government in Andhra Pradesh headed by Chief Minister YS Jaganmohan Reddy received yet another jolt in AP High Court on Thursday (today) over the issue of alleged insider trading in Amravathi capital lands during TDP regime between 2014 and 2019.
The High Court on Thursday dismissed FIR filed against former AP advocate general Dammalapati Srinivas, his family members and friends.
The Andhra Pradesh ACB filed cases against Dammalapati Srinivas and his family member stating that they indulged in insider trading by purchasing lands in Amaravathi for cheaper rates from farmers after obtaining prior information from TDP government that it will announce Amaravathi as new capital for AP.
However, Srinivas challenged these orders in the High Court. The High Court issued stay orders. But again, YSRCP government approached Supreme Court on this issue. The Supreme Court too dismissed the petition stating that there was no insider trading in Amaravathi lands and directed High Court to complete hearing on this case within a month.
Following this, the AP High Court delivered verdict today dismissing FIR filed against Srinivas.
The High Court permitted Srinivas to initiate legal proceedings against ACB for framing him in this issue by filing false cases against him and causing mental agony.
