HYDERABAD: BRS Working President K.T. Rama Rao (KTR) has accused the Congress-led Telangana government of operating under a “3D formula” of deception, destruction, and diversion. He alleged that Chief Minister Revanth Reddy’s administration had initiated large-scale financial crimes and was embroiled in major corruption scandals.

Speaking to the media after paying floral tributes to Mahatma Jyotirao Phule at Telangana Bhavan on the occasion of his birth anniversary, KTR stated that the country was shocked by the environmental devastation in Kanchan Gachibowli. He claimed that the 400-acre land in question was forest land, as confirmed by Supreme Court judgments.

KTR alleged that a ₹10,000 crore scam was linked to land belonging to the University of Hyderabad (HCU), accusing Revanth Reddy of being the mastermind behind it. He claimed the CM was fully aware of and complicit in this financial fraud.

He further alleged that a BJP MP was assisting in the scam, with a company named Trust Advisors Investment acting as a broker on behalf of Revanth Reddy. According to KTR, the company received a bribe of ₹170 crore for its role. He said that Supreme Court rulings and RBI guidelines had been blatantly violated and that the Revanth Reddy government had illegally pledged forest land as collateral.

KTR emphasised that even the government does not have the authority to mortgage or sell forest land, pointing out that both the WALTA and Forest Acts had been flouted. He accused a BJP MP of bringing in the brokerage firm and claimed that Revanth Reddy had provided undue benefits to the MP’s associates. He promised to soon reveal the identity of the MP involved and said that letters were being sent to central investigative agencies, urging probes by the CBI, RBI, SEBI, SFIO, and other authorities.

He clarified that TGIIC (Telangana State Industrial Infrastructure Corporation) does not own the 400 acres and had pledged land that does not belong to it. He claimed that the land was falsely mortgaged to secure a bank loan, despite being government or disputed property.

KTR cited contradictory land valuations: the Stamps and Registration Department had pegged the value at ₹5,239 crore, while the Revenue Department had estimated it at ₹30,000 crore. He accused the Revanth Reddy government of attempting to secure loans by misrepresenting ownership of non-existent land and engaging in a massive financial fraud.

He questioned how TGIIC could mortgage land it did not own and alleged that the Prime Minister and Union Finance Minister were unaware of this fraudulent activity. KTR demanded immediate investigations by the Central Vigilance Commission (CVC) and the CBI, stating that failure to act would imply collusion between the Congress and BJP.

He also questioned how ICICI Bank could grant a loan for land under litigation, without even conducting a field visit, solely based on a broker’s representation.