YSR Congress party general secretary and Rajya Sabha MP V Vijay Sai Reddy reacted sharply to the case filed by Crime Investigation Department of Andhra police against him and others for allegedly coercing former Kakinada port chairman KV Rao to transfer shares of Kakinada Port to his relatives at undervalued rates.
Sai Reddy alleged that chief minister N Chandrababu Naidu, in his earlier stint, had privatised the government-established Kakinada Port, which was initially funded by the Asian Development Bank (ADB).
“Naidu handed over the port to KV Rao under the guise of a Malaysian company’s acquisition,” he said and demanded a CBI investigation into the Kakinada Port dealings since 1997.
Sai Reddy also criticized Naidu for allegedly filing false cases out of political vendetta against former chief minister Y S Jagan Mohan Reddy.
He questioned the timing of KV Rao’s complaint, suggesting it was orchestrated as part of a broader conspiracy.
Reddy went on to label KV Rao as a "broker" who operates from Singapore, claiming his role in port negotiations influenced valuations.
He revealed that he had contacted KV Rao in May 2020 to discuss Kakinada Port, challenging him to present evidence of any improper dealings.
He also referred to past remarks by actor-politician Pawan Kalyan, who reportedly called KV Rao a "broker" in 2018.
According to Reddy, the current allegations are part of an orchestrated attempt to discredit him and reclaim the port.
Reacting to the CID’s lookout notices against him and other accused to prevent them from fleeing abroad, Sai Reddy asserted that he requires the CBI court permission to travel abroad, implying the notice was baseless.
He warned of filing a defamation case against Chandrababu Naidu for tarnishing his reputation.
“Naidu and his son Nara Lokesh are good for nothing fellows. In a way, Pawan Kalyan can emerge as a better leader than the father and the son,” he said.