Nimmagadda held in Serbia

Hyderabad: Prominent Telugu businessman Nimmagadda Prasad has been reportedly taken into custody by the Serbian Police in Belgrade following a complaint from the representatives of Ras-al-Khaimah over a dispute in the VANPIC (Vadarevu and Nizampatnam Port Industrial Corridor).

He has been reportedly taken into custody by the police two days ago when he went there on a holiday. The Ras-al-Khaimah, the northernmost emirate of the United Arab Emirates, has filed the complaint in the case of VANPIC shares and has approached Interpol.

The issue came to light when the YSR Congress Party MPs have sent written communication to External Affairs Minister Subrahmanyam Jaishankar on Tuesday to intervene in the matter and discuss with Serbia and bring Prasad back to India safely.

Nimmagadda Prasad is facing allegations in VANPIC project which is in joint partnership with Ras-al-Khaimah. The project is an upcoming industrial park located between Guntur district and Prakasam district which is spread over 13,000 acres.

The project was approved under the regime of former Chief Minister Y S Rajasekhara Reddy in the undivided Andhra Pradesh. The project case is under the Central Bureau of Investigation for land acquisition and other allegations.

The allegation in the case was that the government had allotted 13,000 acres of land to the project by flouting the rules.

The Enforcement Directorate (ED) had attached all the lands allotted to the company in which the Ras-al-Khaimah claimed that because of the controversy, they had incurred huge losses.