Action soon after probe reports

Vijayawada: Minister for municipal administration and urban development P Narayana said that large scale irregularities had taken place in TDR bonds issuing at Tirupati, Tanuku and Visakhapatnam during previous YSRCP regime.

Replying to a question raised by Visakhapatnam East MLA Velagapudi Ramakrishna in Assembly on Friday, the minister said that regional vigilance and enforcement and CID inquiry is going on into irregularities in issuing TDR bonds in Visakhapatnam. He said action will be taken immediately after receiving inquiry reports.

The minister said irregularities in TDR bonds issuing took place not only in Visakhapatnam but also in Tanuku where bonds worth Rs 754 crore were issued against actual bonds worth Rs 63.24 crore. He said that the bonds were issued on the address given in city area by showing rural lands. He said in Tirupati, 29 bonds worth Rs 170.99 crore were issued. However, the NDA government stopped the issuing of bonds.

Narayana said at present, the issuing of 965 TDR bonds was pending. He said that the irregularities in TDR bonds will be notified in three months.