CBI opposes Brahmananda Reddy's bail plea

HYDERABAD: The CBI on Saturday filed a counter opposing the bail plea of K V Brahmananda Reddy, the former secretary of the AP Investment Infrastructure Corporation Ltd (APIIC). Brahmananda Reddy was arrested in connection with the Vanpic agreement in Jagan's illegal assets case.
The CBI in its contention said, as an authorized signatory of the AP government in the Vanpic agreement K V Brahmananda Reddy, the Indian Railway officer who on deputation was heading the AP's Investment and Infrastructure wing as its secretary at the time of the agreement between the states of AP and
with Ras Al Khaimah, Brahmananda was aware of his wrong-doing but ensured knew that he was doing a wrong thing by ensuring
that the lands were acquired and transferred to Vanpic Projects Ltd instead of the officially-specified company called Vanpic Ports Ltd.This was the contention of the CBI in its counter filed in the trial court opposing the bail plea of the officer who was arrested by the agency in the Vanpic episode of the Jagan assets case.
Despite knowing all the details of the project, he acted in a manner that jeopardized the interests of the state, H Venkatesh, the CBI SP and the chief investigating officer in the Jagan's assets case, said.
The CBI said that Brahmananda Reddy had written letters to the collectors of Guntur and Prakasam districts to handover lands to Vanpic projects Ltd of Nimmagadda Prasad, another prime accused in the case. This was in contrast to the decision of the then cabinet, he said.
In fact, as many as 18,878 acres of land went into the hands of Vanpic Projects even without the state getting anything in return, the SP said. Moreover, Brahma played a key role in reducing the share of RAK and brought in Navayuga Engineering company in an unauthorized manner without the prior approval of the AP government. This was done due to indiscriminate and unauthorized changes made to the concession agreement, Venkatesh said.
While the original concession agreement makes it mandatory to vest all lands in the state after the completion of the agreement period, the accused made unlawful and unofficial changes to the effect that they remain with the company, the CBI SP said. Even when the authorities tried to rectify the changes and mistakes, Nimmagadda Prasad stonewalled their efforts through his objections, the CBI officer said and urged the court to reject the bail plea as Brahma, being an influential man, would certainly influence the witnesses and tamper with the evidence if let out at this stage.