Ex-Andhra Pradesh CM YS Jagan Mohan Reddy and YSR Congress' members were accused of illegally acquiring shares in Kakinada Seaport Limited (KSPL) and Kakinada Special Economic Zone (SEZ) in 2020/21. KSPL MD Karnati Venkateswara alleged that KSPL's 40% shares, valued at ₹2,500 crore, were forcibly acquired for ₹494 crore. Further, SEZ's 49% shares were forcibly acquired for ₹12 crore.