Former YSR Congress leader and longtime confidant of Jagan Mohan Reddy, Vijay Sai Reddy, has been staying away from active politics since announcing his retirement a few months ago. However, his past actions appear to be catching up with him, as fresh legal troubles are now looming over him.
The Andhra Pradesh CID has officially served the first round of notices to Vijay Sai Reddy in connection with the Kakinada Port shares hijack case. He has been summoned to appear for questioning on March 12, and the news has been formally communicated to the media.
This could be just the beginning of a broader legal probe into the Kakinada Port issue, one of the most controversial financial disputes in Andhra Pradesh politics. According to reports, Karnati Venkateswara Rao (K.V. Rao), the Chairman and Managing Director of KSPL, alleged that upon YSRCP’s rise to power in 2019, audits were initiated to investigate financial irregularities within KSPL. These audits purportedly uncovered revenue suppression of nearly ₹1,000 crore between 2014-15 and 2018-19.
Rao claims that, using these audit findings as leverage, Vijay Sai Reddy and his associates coerced him into transferring 41.12% of KSPL shares—valued at approximately ₹2,500 crore—for a drastically undervalued sum of ₹494 crore. Similarly, a 48.7% stake in KSEZ, worth around ₹1,109 crore, was allegedly acquired for just ₹12 crore.
With the case now under CID investigation, multiple YSRCP leaders, including Vikrant Reddy and Vijay Sai Reddy, are expected to come under legal scrutiny. Sai Reddy has already been served notices, and further developments could intensify the legal heat on him.
Adding to the intrigue, Vijay Sai Reddy’s past role as Jagan’s trusted auditor means he possesses in-depth knowledge of the financial affairs of the former Chief Minister and the fiscal dealings of the previous YSRCP government. If he decides to disclose critical details, it could send shockwaves through the YCP camp, making this a tense and uncertain period for the party’s leadership.
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