KT Rama Rao Accuses Telangana Government of Financial Misconduct

Illegal Loan and Land Value Revision Alleged in Kancha Gachibowli Land Issue

KT Rama Rao, the working president of BRS, has accused the Telangana government of financial misconduct in the Kancha Gachibowli land issue. He alleges that the state government committed a financial crime by pledging 400 acres of Kancha Gachibowli land to secure a loan of Rs 10,000 crore from ICIC Bank, despite the land not being officially transferred to the Telangana State Industrial Infrastructure Corporation (TGIIC).

Request for Investigation

• KTR is writing letters to the Reserve Bank of India, Central Vigilance Commission, and Serious Fraud Investigation Office to investigate the matter.

Violation of FRBM Limits and Conspiracy to Benefit Influential Individuals

• KTR alleges that one consultancy and merchant banker was paid Rs 170 crore for facilitating the loan, which violates the FRBM limits.
• He also questions why the land value of Kancha Gachibowli was revised three times, from Rs 75 crore to Rs 52 crore, and then to Rs 41 crore per acre. He suggests that this was a conspiracy to benefit certain influential individuals.

Gachibowli Land is Forest Land

• KTR asserts that Gachibowli land is forest land and points out that the Supreme Court stated in 1996 that even land with forest-like features can be considered forest land and does not need to be declared as a reserve forest.
• He argues that the government has no authority to sell or pledge such forest lands.

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