Chief minister N Kiran Kumar Reddy on Tuesday came down heavily on TDP chief Chandrababu Naidu and said the CBI is all set to investigate the allotment of 450 acres of land at Gachibowli in Hyderabad to IMG Bharata in February 2004 when the latter was in an officiating capacity as caretaker chief minister.
Apparently in reply to the TDP boss’s criticism of the Congress that its government is corrupt to the core and that people were suffering under its dispensation, Kiran Kumar Reddy, addressing a public meeting here, hit back at the former chief minister.
“Chandrababu Naidu allotted the land for a pittance. The land’s value then was Rs 1 crore per acre, but it was handed over to IMG Bharata at a throwaway price of Rs 50,000 per acre,” he said and warned: “The CBI will soon be investigating the deal. The CBI has expressed its willingness to the AP High Court that it will investigate the transaction. As soon as the High Court gives the go ahead, the investigation will begin.”
The High Court was to have delivered its judgement on October 1 but the case was adjourned to a later date after IMG Bharata representative Billy Rao brought to the court’s notice that he had not received notices on the willingness of the CBI to investigate the land deal.
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