Vijayawada: In a major setback to the state government, the Andhra Pradesh High Court on Tuesday quashed the prosecution launched by the Criminal Investigation Department (CID) against some individuals in the sensational “insider trading” case.
The case involved purchase of lands in the new capital area of Amaravati at cheap rates, by allegedly concealing the capital status that the area was about to get then.
The Jagan Mohan Reddy government had registered cases against these individuals based on a complaint that close aides of Telugu Desam chief Chandrababu Naidu and his son Lokesh, who were privy to confidential information about the setting up of the new capital in Amaravati, purchased lands at cheap rates from farmers.
One of the accused was Kilaru Srihasa, wife of Lokesh’s close aide Rajesh.
Dealing with petitions filed by the accused seeking quashing of the case, Justice Ch Manavendranath Roy said, “The prosecution of the petitioners is wholly…