The case about Insider Trading in Amaravati has come to a hearing in the Supreme Court today. The bench headed by Vineet Sharan and Dinesh Maheshwari heard the petition. Dushyant Dave argued on behalf of the Andhra Pradesh government.
Dushyanth Dave argued that those in power have informed their own people about the capital location and committed insider trading in nexus with the official. The attorney argued that the High Court did not have the power to suspend the preliminary investigation in the case.
The bench made a statement supporting the high court’s order of Insider Trading not applicable to this case. “Why is that wrong? The High Court has come to the conclusion after considering all aspects. Has anyone complained? What is the wrong when High Court says the capital issue was an open secret?” the court questioned.
The bench further questioned what is the interest of the Government in this issue when no one approached the court alleging cheating. Dushyant Dave then asked for time to come up with more arguments. The next hearing of the case is set for the 19th of this month. Going by the comments made so far, it looks like the Government is not able to convince the apex court about Insider Trading in Amaravati.