Hyderabad: The Central Bureau of Investigation (CBI) argued before the Telangana High Court that Vasantha Krishna Prasad, who is presently YSRC MLA and Y.V. Subba Reddy, presently the Tirumala Tirupati Devasthanams (TTD) chairman, were part of a conspiracy to get prime lands for the Indu Projects from the then Andhra Pradesh Housing Board (APHB), in the name of developing housing projects.
Refuting the contentions of Vasantha Projects and its promoter Krishna Prasad that he was not related to Indu Projects housing venture, the CBI counsel K. Surender submitted counter arguments before the court.
Justice Ujjal Bhuyan was hearing the quash petition filed by Krishna Prasad, who requested the court to remove his name from the case filed by the CBI, related to Y.S. Jagan Mohan Reddy’s quid pro quo cases.
The CBI counsel said Indu Shyam Prasad Reddy had been allotted 70 acres of land at various parts of Hyderabad city by the APHB, during the regime of Y.S. Rajasekhar Reddy. The lands were allotted to build various types of houses like villas, MIG and LIG range houses and others. Though Indu projects did not have the eligibility to get the approvals, Shyam Prasad Reddy, promoter of Indu Projects used Krishna Prasad’s Vasantha Projects as a special purpose vehicle to get the housing projects, the counsel said.
Further, he submitted that Krishna Prasad and Subba Reddy allotted the villas constructed at Gachibowli site to their relatives at lesser price. The CBI counsel also submitted that Shyam Prasad invested Rs 70 crore in Y.S. Jagan Mohan Reddy’s company, as reciprocal for allotting government lands to build housing projects. The judge reserved the orders.
