After taking on big heads like Nagarjuna, Telangana Chief Minister K Chandra Sekhar Rao targets YSR Congress President YS Jagan Mohan Reddy. During YSR’s regime, the then Chief Minister liberally allotted to 250 acres of land to Shyam Prasad Reddy of Indu Tech Zone at Mamidipally village in Saroornagar mandal for a very nominal price. Shyam Prasad Reddy is one of the business partners of Jagan and is one of the accused in Jagan’s disproportionate assets case.
The then government gave this land for setting up an IT/ITES Special Economic Zone in 150 acres of the total area. However, it has only constructed three buildings till date for its own consumption. The company even ignored several notices issued by the government in United State. And now KCR’s government which is on a reclamation mission is now targeting to reclaim this land. Recently a team of higher officials in revenue department surveyed this land and are preparing the notices for reclamation.
Indu Techzone even availed a loan of Rs 175 crore by mortgaging a portion of this land and it is said according to agreement, the IT SEZ should be up within 2012. Since the period has ended with out any development, the government should not have any issues reclaiming it. There are allegations that Shyam Prasad Reddy had done several undue favours to YS Jagan for the land allotment and this move of the TRS government will also hit Jagan as well.
