As directed by the Hyderabad high court, YSR Congress party MLA from Mangalagiri Alla Ramakrishna Reddy on Friday paid the first instalment of Rs 10 crore to the Endowments Department of Andhra Pradesh to take possession of the controversial Sadavarthi lands in Chennai.
He disclosed that he would be paying another instalment of Rs 17.44 crore to the government in another two weeks as directed by the high court.
With that the lands admeasuring 84 acres would come in possession of the MLA from the TDP leader and AP Kapu Corporation chairman Ch Anjaneyulu, who knocked away the lands worth over Rs 1200 crore at a cheap rate of Rs 22 crore in an auction allegedly stage-managed by the Chandrababu Naidu government.
Now, the question is from where Alla Ramakrishna Reddy got such a huge money to buy the Sadavarthi lands, since he is not financially so sound to invest such huge money.
Sources said the funding was done by the business house of Punganur MLA Peddireddy Ramachandra Reddy and his MP-son Mithun Reddy.
May be after possessing the land, Alla might transfer the land in the name of Peddireddy business firm, he said.
