Jagan's top aide Vijaysai Reddy bows out of politics

Hyderabad: In a big jolt to YSRCP supremo, YS Jagan Mohan Reddy, his top aide and party's parliamentary party leader, V Vijaysai Reddy, announced he is quitting politics and resigning from Rajya Sabha.

An auditor by profession Vijaysai Reddy, is also co accused in Jagan's quid pro quo cases which are currently being probed by CBI as well as the Enforcement Directorate. He entered politics by joining YSRCP.

Taking to social media, Vijaysai Reddy announced he is retiring from politics and not joining any party.

He was recently questioned by ED for nearly six hours in Hyderabad in connection with the alleged coercive acquisition of shares in Kakinada Deep Water Port (KDWP) by Aurobindo Realty & Infrastructure Pvt Ltd. (ARIPL), which belonged to his son-in-law.

Three Rajya Sabha members have already quit YSRCP a few months ago and and those vacant seats went to their political rival TDP. YSRCP's strength will now drop to seven from 11 in Rajya Sabha.

“I am retiring from politics. I will resign from Rajya Sabha membership tomorrow, 25 January 2025. I am not joining any political party. My resignation is not to attain any post/position, benefit, or monetary gain. This decision is entirely personal.

"There is no pressure, or coercion or undue influence on me. I will forever be indebted to the YS family, who has supported me for four decades and across three generations. I will always be grateful to YS Jagan Garu for giving me the opportunity to serve as a Rajya Sabha member twice, and in particular to Bharatamma Garu, who helped me reach new heights in the political arena,” said Vijaysai Reddy.

He also expressed gratitude to Prime Minister Narendra Modi and Home Minister Amit Shah, for their support over the past nine years has given him strength and recognition in the Telugu states.

“I might have had political differences with TDP, but there are no personal issues with Chandrababu garu and his family. My friendship with Pawan Kalyan Garu is forever. In the future, my focus will be on agriculture. I extend my heartfelt thanks to the people of my state, my friends, colleagues, party workers, and everyone who has supported me throughout my long political journey. I am grateful to each one of you,” said Vijaysai Reddy.

Kakinada Seaports Limited (KSPL)'s former CMD, Karnati Venkateswara Rao, popularly known as KV Rao, accused his family-owned enterprise, Kakinada Infrastructure Holdings Pvt. Ltd. (KIHPL) of robbing 41.12 per cent share in KSPL.

He lodged a formal complaint with the CID.

Based on Rao's complaint, CID registered a case against Vijayasai Reddy, his son-in-law P Sarath Chandra Reddy, and another YSRCP senior leader, YV Subba Reddy's son, Y Vikranth Reddy, auditing firm PKF Sridhar & Santhanam LLP, and ARIPL.

In his December complaint, Rao claimed that threats of his own and his family's arrest compelled him to sign agreements that facilitated the transfer of shares in favour of Aurobindo Realty & Infrastructure.

He claimed that a massive fraud took place, depriving KIHPL of assets worth Rs 2,500 crore for just Rs 494 crore and KSEZ of assets valued at Rs 1,109 crore for just Rs 12 crore.