Vijayawada: Andhra Pradesh Home Minister Mekathoti Sucharita moved a resolution in the AP Assembly, comprehensive investigation into insider trading in Amaravathi land purchases on Wednesday. AP Assembly Speaker Tammineni Sita Ram suggested the Government to hold an inquiry into the allegations.

The Government decided to conduct investigation into the allegations of insider trading in Amaravathi, she said. The report submitted by the Sub-Committee indicated insider trading was resorted to by certain leaders, their relatives and friends in purchase of 4, 070 acres of land the capital region, she added. She said that the probe would be entrusted to an independent agency.

Speaking to the occasion Government Whip Kapu Ramchandra Reddy alleged TDP Supremo N. Chandra Babu Naidu turned the capital into a real estate business to benefit party leaders by leaking the information before official announcement of Amaravathi as State Capital. He also alleged that the TDP leaders purchased lands at throw away prices in Amaravathi.

Kanna Babu, Minister of Agriculture accused TDP Chief Chandra Babu as a ‘leaker’ for adopting deceptive methods. The TDP Chief Chandra Babu leaked false information about capital location and correct information to a select people leading to massive insider trading, he alleged. YSRCP MLA K. Nageshwar Rao said that TDP Chief Chandra Babu and other TDP leaders spread false information that Nuzivid would be the capital city of the state.