Andhra Pradesh High Court quashes cases on insider trading

Amaravati: The AP High Court dismissed the petition filed by the CID officials alleging insider trading in Amaravati capital lands. The officials in the petition stated that several persons were benefited by resorting to insider trading, including one Kilaru Rajesh.

P Venkateswarlu, the advocate for Kilaru Rajesh, who filed a quash petition in the court stating that the state government had been harassing him and argued that how can the CID officials file cases without the complaint from the sellers of the land.

The High Court dismissed the petition stating that there was no insider trading and sections under Indian Penal Code would not be applicable to the charges mentioned.