The Jaganmohan Reddy Government has made it a ritual to approach the Supreme Court of India on all adverse orders of the High Court of Andhra Pradesh. It had happened in respect of the YCP colours, English medium, State Election Commissioner, etc. Today, once again, the High Court struck down the Jagan regime’s insider trading charges that were made against Chandrababu Naidu and TDP leaders in the Amaravati Capital lands.
Analysts are asking whether the CM would once again go to the Supreme Court on the insider trading issue as well. Interestingly, this time, the High Court summarily rejected the CID cases saying that the insider trading allegations would not be applicable to any of the sections of the IPC.
With this, it was proved that the Chief Minister, his Ministers and MLAs have been making false allegations against the TDP leaders on this count. Now, the YCP leaders can no longer give ‘insider trading’ as the reason for their shifting the AP Capital from Amaravati to Visakhapatnam. This is the only major reason that the CM has used to whip up feelings among the people to support his Capital shifting task all these days.
Legal experts say that if the AP Government would still go to the Supreme Court on insider trading, that would make it look absurd. The High Court had made it clear that the insider trading charges cannot be booked under the IPC.