Vijayawada: The Andhra Pradesh Chief Minister Y.S. Jagan Mohan Reddy announced that a thorough inquiry would be conducted into allegations of insider trading in purchase of lands in Amaravathi capital region.

He was responding to a direction issued by Speaker Tammineni Sitaram in this regard on Monday, on the debate of de-centralization of three capitals bill-2020 in the Assembly. Jagan told the Speaker that Assembly is a Quasi Judicial Institution and you are a Judge. He also expressed his readiness to implement the Speaker’s decision.

Earlier, there were heated arguments between the Speaker Tammineni and opposition leader Chandra Babu Naidu on the authority of the Speaker to order for such inquiry. Speaker Sitaram angrily shouted on Chandra Babu don’t talk rubbish, sit down. Be in your limits. You are exceeding your limits, said Speaker. Speaker banged papers on the table taking objections to the remarks that Speaker has no authority.

This trouble started when the Finance Minister Bugganna Rajendra Nath disclosed the names of Chandra Babu and his son Lokesh and their aides names in the insider trading on purchasing the lands at Amaravathi between the June to December 30^th in 2014, before announcement of the state capital Amaravathi. After the disclose of Bugganna, Speaker said since the names read out and documents showed in support of the Minister’s claims form part of the record of the Assembly and it is the responsibility of the house to keep people informed of the truth. Speaker also said that Chandra Babu should not have any objection over the probe when he is innocent.