Andhra Prdesh main opposition leader and YSR Congress Party presidet YS Jagan Mohan Reddy’s trick relating to InduTech Zone IT SEZ has put Prime Minister Narendra Modi, Finance Minister Arun Jaitley, Law Minister Ravi Shankar Prasad, Commerce Minister Suresh Prabhu, Urban Development Minister Narendra Singh Tomar stuck in an unfortunate situation.
Despite the fact that Jagan isn’t named as respondent, his name is said by the Mauritius government.Going into subtle elements, one Mauritius organization Carissa Investments LLC of Mauritius had purchased 49 percent stake in InduTech Zone IT SEZ in the Unified Andhra Pradesh, through Foreign Direct Investment (FDI).
The SEZ didn’t begin as it got entrapped in legitimate issues after the CBI chargesheeted YS Jagan Mohan Reddy in a trick including the place that is known for the InduTech Zone IT SEZ.
The Carissa Investments LLC has raised the issue with the Mauritius government. The Mauritius government has raised the issue under a two-sided arrangement – amongst Mauritius and India – for the insurance of ventures.
Refering to the United Nations Commission on International Trade Law Model Law on Commercial Arbitration, the Mauritius government sent notification to the best Union clergymen of the country.
The Mauritius government guaranteed that Carissa Investments LLC, situated in Mauritius, has been duped. Carissa Investments LLC is looking for a claim of 50 Million USD and an assertion.
Prior, Indu Shyam Prasad Reddy, who stowed the agreement to build up the SEZ, had sold the land to acquire credits and washed some piece of it. Shaym Prasad Reddy, alongside others, was reserved in a similar case.
With Jagan’s inclusion in the land case, this entire issue has transformed into a gigantic cerebral pain for PM Narendra Modi who is edgy to hold hands with YS Jagan Mohan Reddy of the YSRCP in AP. It should be perceived how the BJP would now react.