KTR Alleges ₹10,000 Cr Scam by Revanth Reddy

The recent deforestation drive that happened near the premises of the Hyderabad Central University in an extent of 400 acres is one of the major political discussions in Telangana. This topic was brought in front of Media by KTR today as he made a shocking allegation against the Telangana, government and chief Minister Revanth Reddy.

KTR publicly stated that the Telangana government and Revanth Reddy have committed a financial fraud of ₹10,000 crore through these HCU lands.

KTR stated that the Telangana government has no jurisdiction over the 400 acres, but still managed to mortgage the same with the ICICI Bank for an amount of ₹10,000 crore. He suspected that ICICI bank also did not perform due diligence, perhaps due to the pressure of chief minister, Revanth Reddy.

In his interaction with a national media outlet, KTR stated “Telangana Government has indulged in a massive financial fraud led by its Chief Minister… The government claims the 400 acres of land to be its. ICICI Bank also, for whatever reasons better known to them, has not done any due diligence. Maybe under the pressure of the Chief Minister and his cronies here, they have gone ahead and blindly sanctioned 10,000 crore.

This 10,000 crore rupees is public money. This is something that cannot be taken lightly. That’s why I’m writing to the RBI Governor. I’m writing to SEBI. There is a quid pro quo arrangement with the BJP MP and the CM.” KTR stated.

Ctr has made pretty serious allegations against Revanth Reddy, and we can expect the chief minister to revert back in an equally hard manner very soon. It appears that 400 acre controversy is not going to die down any time soon.