Kakinada Port: Agreement reached in Kakinada port dispute Koliki-KV Rao, Aurobindo!
Kakinada Port: The controversy going on for the last few months regarding Kakinada Sea Port has finally ended. Aurobindo returned the shares of Kakinada port to Kevirao. With this, Rishi Aurobindo conquered Kakinada. It seems that an agreement has been reached to allot Kakinada Sea Port to Kevirao and Kakinada SEZ to Aurobindo. With this, the dispute that has been going on for the last eight months has come to a complete end.
Kakinada Port, Kakinada SEZ controversy
At that time he held 2.15 crore shares worth Rs 2,500 crore. Kevirao alleged that Rs 494 crore had been stolen. At the same time, Aurobindo Kevirao was the owner of 8 thousand acres of land in Kakinada SEZ. After the coalition government came to power, K.V. Rao complained to the CID that the shares were forcibly transferred during the YCP regime. Based on the CID complaint, the ED also stepped in and registered a money laundering case on the payment of Rs 494 crore. ED officials have already questioned YCP MPs V Vijayasai Reddy and YV Vikrant Reddy. With this the dispute turned into a turning point. Aurobindo Company returned the shares taken from Kevirao to him. With this the Kakinada port deal was reversed. Kakinada port again came into the hands of the old owner Kevirao.
Transferred three days ago
It seems that Aurobindo transferred 41.12 percent shares related to Kakinada Port to Kevirao three days ago. It is reported that people at the top level have intervened in this dispute and made both the parties sit and mediate. The news is that this deal has been done on a large scale. Aurobindo, who was ready to transfer shares in the port, put forward a condition. A condition was imposed to leave the SEZ. After agreeing on this, it was revealed that 2.15 crore shares in the name of Aurobindo were transferred to Kevirao. In connection with this it was revealed that the amount and shares given by Kevirao to Aurobindo at that time were transferred back to Aurobindo by Kevirao. With this, Kakinada port was captured by Kevirao. On the other hand, Aurobindo took possession of Kevirao’s 8 thousand acres of land in Kakinada SEZ. It is known that at that time the elders had come to an agreement on whose business they should now do.
Construction of the port in 1990
Kakinada Port was built in 1990 with an ADB loan. This port, built by the government, was handed over to private individuals by Chandrababu in 1998. This is how the port came to Kevirao. However, with the YCP government coming to power in 2019, 41 per cent shares in Kakinada Seaport Pvt Ltd, owned by Kevirao, were transferred to Aurobindo Realty. Then the management of Aurobindo said that they had bought 41 percent shares. But Kevirao has accused him of threatening and grabbing shares. And there’s no record of much legal action being taken to get them back. Many people say that Kevirao must have thought about the consequences of what he did.
Kevirao’s complaints after the coming of coalition government
But the government changed in the 2024 elections. TDP coalition government came to power. Kevirao, who had by then been an excellent performer, filed a complaint with the CID, criticizing Aurobindo for threatening him and snatching shares in the seaport. CID has registered the case and started investigation. CID issues notice to Vikrant Reddy of Aurobindo. CID has started investigation. On the other hand, ED has also registered a case of money laundering and started investigation. Along with this, Vikrant Reddy approached the High Court for bail. Kevirao was made a party in this petition. It is known that Aurobindo had agreed to return the shares and transferred them in the background of the Kakinada port dispute. This has brought a complete end to this controversy.
Report: Jagadishwar Rao Jarajapu, Hindustan Times Telugu
