HYDERABAD: Bharat Rashtra Samithi (BRS) Working President KT Rama Rao has levelled serious allegations against Telangana Chief Minister Revanth Reddy, accusing him of orchestrating a ₹10,000 crore land scam involving ICICI Bank and intermediary brokers.
In a statement, Rama Rao claimed that the state government, under Reddy’s leadership, falsely asserted ownership over 400 acres of land, purportedly belonging to the University of Hyderabad. He alleged that this land was used as collateral to secure a ₹10,000 crore loan from ICICI Bank, facilitated by intermediary firms such as Beacon and Trust Advisors. Rama Rao criticised the bank for allegedly bypassing due diligence, suggesting that the loan approval was influenced by political pressure from the Chief Minister and his associates.
“This ₹10,000 crore is public money. This is something that cannot be taken lightly,” Rama Rao stated, expressing his intention to report the matter to the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI) for further investigation.
The BRS leader also insinuated a quid pro quo arrangement between the Chief Minister and a BJP Member of Parliament, though specific details were not disclosed.
In response, the Telangana government has denied any wrongdoing. Deputy Chief Minister Mallu Bhatti Vikramarka asserted that the government had not encroached upon any land belonging to the University of Hyderabad. He explained that the land in question had been under legal dispute for years and that the courts had ruled in favour of the government.
Vikramarka emphasised that the government’s actions were aimed at utilising the land for public benefit, including the development of IT infrastructure to create employment opportunities.
The controversy has sparked widespread protests from student groups and environmental activists, who are concerned about potential ecological damage and the preservation of university land. The matter has also reached the Telangana High Court, which is set to hear related petitions in the coming days.
HCU కంచ గచ్చిబౌలి భూముల మీద కాంగ్రెస్ సర్కార్ చేస్తున్న భారీ స్కాం పై విచారణ చేయాలని RBI, CBI, CVC, SFIO, SEBI లకు ఆధారాలతో సహా లేఖలు రాసిన బీఆర్ఎస్ వర్కింగ్ ప్రెసిడెంట్ @KTRBRS #HCULandScam pic.twitter.com/hzQ98edc6H
— BRS Party (@BRSparty) April 11, 2025
