Chronology
Timeline
Follow the record in sequence; every event opens to its supporting source.
Port audits later become part of Rao's complaint
Rao alleged that government-commissioned special audits led to a claim of nearly ₹1,000 crore in unpaid port revenue share. The archived reports record his allegation, not an independent finding that the audits were fabricated or the revenue claim was valid.
KSPL share agreement and ₹494 crore addendum
The complaint reproduced in the High Court order says the initial agreement for KIHPL's 41.12% KSPL stake left the price to a purchaser-appointed valuer. A 3 September addendum set ₹494 crore. Rao says threats caused him to accept; the order does not establish that coercion occurred.
KSPL's shareholder register confirms the transfer
KSPL's annual report lists Aurobindo Realty and Infrastructure as holding 41.12% at 31 March 2021, where KIHPL held that percentage at 31 March 2020. This establishes a change in the KSPL shareholder register, not why the transfer occurred.
Rao complains; CID registers Crime No. 30/2024
Rao accused political intermediaries and the acquirer of forcing the KSPL and separate Kakinada SEZ share sales. CID registered a case following his 2 December report. The News Minute reported that Y. S. Jagan Mohan Reddy was named in Rao's allegations but was not an accused named in the FIR.
Aurobindo Pharma distinguishes itself from the acquirer
In a stock-exchange clarification, Aurobindo Pharma Limited said it and its subsidiaries had no ownership or operating connection with KSPL, KSEZ, or Auro Infra Private Limited. The statement addresses the listed pharma company; it does not adjudicate claims against Auro Infra or individuals.
Rating report records the KSPL stake's return
ICRA's August 2025 rating rationale says KIHPL had acquired back the 41.12% KSPL stake from Aurobindo Realty as of January 2025. It does not say that the separate KSEZ interest was returned or determine why the original sale was reversed.
High Court grants Vikranth anticipatory bail
In Criminal Petition 8912/2024, the AP High Court questioned the support then available for Rao's ₹2,500 crore valuation and the long delay before his police complaint. Counsel for both sides agreed that the KSPL shares had been returned. These observations were made at the bail stage, not in a final trial.
CID referred report and closure against Vikranth are reported
The Times of India reported that Vikranth's counsel told the AP High Court the CID had found no evidence against him, filed a referred report, and that a Kakinada magistrate closed the case against him. The referred report and orders are not archived, so the basis and scope of that reported closure remain to be checked.
Tax tribunal orders further examination of reversal
KIHPL argued before the Hyderabad ITAT that a coerced sale later reversed should alter its previously declared ₹373 crore long-term capital gain. The tribunal admitted the new ground and documents, then remanded the question for verification and a merits decision. It did not finally decide coercion or tax liability for this transfer.
Legal proceedings
Court record lanes
The branches keep separate proceedings and their identifiers distinct; they do not imply a final merits finding.
The March 2025 High Court order and January 2026 ITAT order address different questions. The later criminal-closure account comes from reporting because the underlying referred report and orders have not been archived.
Crime No. 30/2024, CID PS Mangalagiri
- Complainant
- Karnati Venkateswara Rao, through Kakinada Infrastructure Holdings Private Limited
- Police report
- Dated 2 December 2024; allegations include threats and undervalued KSPL/KSEZ share transfers
- Named provisions
- IPC §§506, 384, 420, 109, 467, 120B read with 34, and BNS §111, as recorded in the bail order
- Reported later step
- Times of India reported a CID referred report finding no evidence against Vikranth; primary report and magistrate order not archived
Criminal Petition No. 8912 of 2024
- Order
- 7 March 2025; anticipatory bail granted to Y. Vikranth Reddy, accused No. 1
- Valuation observation
- Court said evidence supporting the complainant's claimed ₹2,500 crore value for 41.12% KSPL was not forthcoming at the bail stage
- Delay and transfer
- Court questioned the reporting delay; counsel for both sides agreed the KSPL shares had been returned
- Limit
- Pre-arrest protection, not a final finding on all accused or the share transaction
ITAT Hyderabad, ITA No. 1053/Hyd/2025
- Order
- 21 January 2026; KIHPL v. Deputy Commissioner of Income Tax
- Question
- Whether the later KSPL share retransfer affects ₹373 crore of previously declared long-term capital gains
- Result
- Additional ground and documents admitted; issue remanded to Commissioner (Appeals) for verification and merits decision
- Limit
- No final ruling that political coercion occurred, or that the earlier tax gain is extinguished
Evidence boundary
Supported and not established
The line matters: archived records can support a finding without resolving every allegation, motive, or final outcome.
What the sources support
- KSPL's FY2020–21 annual report records the 41.12% transfer from KIHPL to Aurobindo Realty. ICRA records that KIHPL reacquired that stake by January 2025.
- The AP CID registered Crime No. 30/2024 on Rao's complaint. The March 2025 High Court order grants Vikranth Reddy anticipatory bail; it does not determine criminal guilt.
- The January 2026 ITAT order admits KIHPL's new tax argument and evidence about the reversed share sale, then remands that issue for examination.
- A November 2025 news report describes a CID referred report and magistrate closure against Vikranth; the underlying documents have not been obtained.
What remains unresolved
- The complaint, complete FIR and annexures, special-audit reports, 2020 purchase agreements, valuations, and lender correspondence are not archived. The ₹2,500 crore KSPL and ₹1,109 crore KSEZ values are Rao's assertions, not established losses.
- The CID referred report, magistrate closure order, and November 2025 High Court withdrawal order are needed to verify precisely whom the reported closure covers and why.
- The current KSEZ shareholder register and any retransfer or settlement instrument are needed to establish the SEZ stake's outcome; the documented KSPL retransfer does not answer it.
- The official AP High Court bail PDF and official ITAT order PDF were not located; searchable court text was archived from Indian Kanoon. No final merits finding of criminal coercion is established here.
- A January 2026 ED announcement concerns separate FEMA reporting contraventions at KSPL and does not resolve the CID coercion case or establish the outcome of any PMLA inquiry.