Phone 040 6630 7666 | ||
Address H.No:1-1-151 & 1-1-151/1, Sai Ram Towers,6th Floor, Alexander Road, Secunderabad, Telangana 500003 | ||
Vadarevu and Nizampatnam Industrial Corridor or VANPIC is an upcoming industrial park located between Guntur district and Prakasam district in Andhra Pradesh India. It is spread over 13,000 acres. It is under CBI investigation for land acquisition and other allegation. Around 4000 acres was acquired for port development. Large tracts of land was acquired from local farmers. In April 2011, the property consultant, Jones Lang LaSalle estimated the 13,000 acres at Rs.1426 crores.
Contents
History
The land was acquired by the government during in 2008 and the CM himself has put a lot of pressure on his secretaries.
Location
It is located near Nizampatnam in Guntur district.
Investigation
Former minister Mopidevi Venkataramana was arrested in the case by the CBI, and minister Dharmana Prasad Rao resigned over allegations. Another company, VANPIC projects was started by industrialist, Nimmagadda Prasad and Ras Al Khaimah (RAK group), and the company was allotted 24,000 acres by the government.
The mechanisms of the large scale corruption in the case was highlighted in the fourth chargesheet filed by the CBI in the Jagan Reddy corruption case. The chargesheet relates to the VANPIC project:
quid-pro-quo investments made by industrialist Nimmagadda Prasad to the tune of Rs 854 crores into the companies of Jagan and allotment of 22,000 acres of land to Nimmagadda Prasad in violation of prevailing rules and regulations.The "suitcase company" methodology was succinctly described by Supreme Court of India Chief justice P. Sathasivam, in his judgment rejecting a bail application for Jagan Reddy:
The investigation disclosed the payment of illegal gratification of Rs. 30 crores to Y.S. Jagan Mohan Reddy (A-1) by Nimmagadda Prasad (A-3) for the wrongful gain obtained by A-3 from the Government of Andhra Pradesh in connection with awarding a project consisting of development of two Sea Ports and an Industrial Corridor as VANPIC Project and falsification of documents to cover up the said payment etc.