KTR Accuses CM Revanth Reddy of ₹10,000 Cr Land Scam Near HCU
BRS working president K.T. Rama Rao (KTR) has made explosive allegations against Chief Minister A. Revanth Reddy, accusing him of orchestrating a ₹10,000 crore scam involving forest lands near Hyderabad Central University (HCU).
Hyderabad: BRS working president K.T. Rama Rao (KTR) has made explosive allegations against Chief Minister A. Revanth Reddy, accusing him of orchestrating a ₹10,000 crore scam involving forest lands near Hyderabad Central University (HCU).
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400 Acres of Forest Land Allegedly Mortgaged Illegally
KTR claimed that 400 acres of land in Kancha Gachibowli, classified as forest land, were illegally pledged to secure loans without proper ownership documents, environmental clearance, or approvals from the Forest Department. He said the Telangana Industrial Infrastructure Corporation (TGIIC) mortgaged the land despite lacking any legal title.
Loan Secured Without Due Diligence
KTR alleged that ICICI Bank granted a ₹10,000 crore loan without verifying ownership or conducting due diligence. He blamed the bank’s decision on pressure and assurance from a broker firm, Trust Investment Advisor Pvt. Ltd., which reportedly received ₹169 crore as commission. Another firm, Beacon Trusteeship, was allegedly used to execute the transaction.
Drastic Fluctuation in Land Valuation Raises Suspicion
The BRS leader pointed to drastic changes in land valuation—from ₹75 crore per acre in June 2024 to ₹41.6 crore per acre in later assessments. He questioned the rationale behind these fluctuations, calling it a deliberate move to transfer the land at undervalued prices to people close to the Chief Minister.
Supreme Court Ruling and Forest Act Violated, Says KTR
KTR cited a 1996 Supreme Court ruling which classifies land with forest characteristics—such as the canopy cover seen in the area—as forest land. Under the Forest Conservation Act, 1980, such land cannot be sold or used for non-forest purposes without central approval. He alleged the Congress government ignored these laws and destroyed green cover overnight.
BJP MP Allegedly Involved; Welfare Schemes Misused
KTR accused a BJP MP of introducing the broker firm to the Telangana government, facilitating the scam. He claimed that the ₹10,000 crore loan, claimed to be for Rythu Bandhu and other welfare schemes, was misused to pay commissions and clear bills of contractors and loyalists.
BRS Demands Arrests and National-Level Probe
Calling it a “heinous financial crime,” KTR demanded the arrest of TGIIC officials and the Industries Secretary. He said the BRS would approach the RBI, SFIO, SEBI, CVC, and CBI. KTR also urged Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman to act and prove their commitment to transparency.
Warning of More Scams in the Pipeline
KTR concluded by warning that this is just the beginning. He alleged that the Congress government has plans to loot an additional ₹60,000 crore by misusing HMDA lands through similar fraudulent tactics. He said Telangana’s future was at stake if such activities weren’t stopped immediately.
