BRS welcomes Telangana HC judgement allowing govt to take back 850 acres allotted to IMG Academies Bharat

Telangana High Court saved public property worth thousands of crores of rupees, which was allotted to IMG Academies Bharat Private Limited, by the then Chief Minister N Chandrababu Naidu, said BRS leader Ravula Sridhar Reddy

Hyderabad: BRS leader Ravula Sridhar Reddy welcomed the Telangana High Court‘s judgement giving control over around 850 acres land in Hyderabad, allotted to a private firm in erstwhile Andhra Pradesh, to the Telangana government. He said the High Court saved public property worth thousands of crores of rupees, which was allotted to IMG Academies Bharat Private Limited, by the then Chief Minister N Chandrababu Naidu.

In a statement issued on Friday, Sridhar Reddy urged Chief Minister A Revanth Reddy and Sports Minister Ponguleti Srinivas Reddy to order for an in-depth investigation into the sale of prime land at throw away prices. He asserted that the persons responsible for it including politicians and officials, should not be allowed to go scott free in view of the High Court observation that why there was no penal action against the individuals responsible for registering the land to IMG Academies Bharat Private Limited.

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The Chandrababu Naidu government in erstwhile Andhra Pradesh sold 850 acre land including 400 acres belonging to University of Hyderabad to IMG Academies Bharat Private Limited at a price of Rs 25,000-50,000 per acre against the then market value of Rs 13 lakh per acre. It was also proposed to handover 11 sports stadiums in Hyderabad by paying huge maintenance fee along with five acres of prime land in Jubilee Hills. However, the Congress government led by YS Rajashekhara Reddy issued orders to cancel the land allotment, against which the company filed a petition in the High Court.