Nation Politics 04 Jul 2017 YSRC MLA Ramakrishna ...

YSRC MLA Ramakrishna Reddy to get buyers for Satram’s land

DECCAN CHRONICLE.
Published Jul 4, 2017, 2:52 am IST
Updated Jul 4, 2017, 2:52 am IST
Ramakrishna says will get Rs 5 crore more than state’s auctioned amount.
YSRC MLA A. Ramakrishna Reddy
 YSRC MLA A. Ramakrishna Reddy

Hyderabad: Controversy over the auction of land belonging to the Guntur-based Sadavarti Satram in Tamil Nadu on Monday took a new turn with YSRC MLA A. Ramakrishna Reddy agreeing to get buyers who would pay Rs 5 crore more than the total amount fetched in the auction conducted by the AP government.

The MLA had challenged the auction of the land of the Satram, which is an endowment trust, stating that the government had sold the land at low prices.

 

Earlier, a division bench comprising acting Chief Justice Ramesh Ranganathan and Justice T. Rajani while dealing with a petition by Mr Ramakrishna Reddy had directed him ensure payment of Rs 5 crore in addition to the Rs 22.44 crore that the auction fetched for the government.

The MLA had told the court that the Satram had valuable land in Navalur, Thalambur and Podur of Tamil Nadu and Guntur district. The government had sold the land at throwaway prices without inviting objections as per Section 80 (1)(B) of Endowments Act by issuing a notification, Mr Ramakrishna Reddy had said.

 

He alleged that the government had auctioned about 84 acres of Satram land for Rs 22.44 crore. 

The bench had asked the MLA whether he was willing to buy, or find buyers, who are willing to pay Rs 5 crore in addition to the Rs 22.44 crore.

AP Advocate-General Dammalapati Srinivas had earlier submitted that some parcels of land were under litigation, and had been auctioned after informing the bidders. He said the successful bidders were prepared to hand over the land if the petitioner or anyone was willing to pay more. 

When this petition came up for hearing on Monday, Mr Ponnavolu Sudhakar Reddy, counsel for the MLA, told the court that Mr Ramakrishna Reddy had found buyers who were prepared to pay Rs 5 crore more for the land. 

 

The bench directed that the new buyers would deposit Rs 10 crore within two weeks and remaining amount of Rs 17.44 crore in two weeks. The bench cautioned Mr Reddy that if he failed to ensure payment of the additional amount, the court would impose Rs 1 crore costs on him.

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Location: India, Andhra Pradesh




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