TDP welcomes SC's decision on insider trading of lands in Amaravati

The Telugu Desam Party (TDP) has welcomed the Supreme Court's decision of striking down the Andhra Pradesh government's petition on insider trading of lands in Amaravati.

TDP spokesperson K Pattabhiram, welcoming the verdict pronounced by the top court, reiterated that the then TDP government did not indulge in any corrupt practices.

"The same has been proved once again proved," he said.

The apex court's decision gave a jolt to the YSRCP government in Andhra Pradesh headed by Chief Minister YS Jaganmohan Reddy in a case pertaining to insider trading in the purchase of lands by some individuals in the Amaravathi capital region and also in acquiring lands for the capital region at Amaravati during previous TDP regime between 2014 and 2019.

The YSRCP-led government has been alleging that when the TDP government was in power, it had indulged in insider trading in the Amaravati capital region, and TDP leaders or their benamis got hold of valuable lands at throwaway prices.

The state high court had quashed the case in January 2021. The YSRCP government filed Special Leave Petition in Supreme Court. The Supreme Court on Monday quashed that petition.

( With inputs from ANI )

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