Telangana’s Swachh Bio US deal not so clean!
Chief Minister A Revanth Reddy’s investment claims face scrutiny as BRS questions the legitimacy of firms like Swachh Bio and Walsh Karra Holdings, linked to Revanth Reddy’s family and showing questionable credentials.
Hyderabad: Chief Minister Anumula Revanth Reddy’s claims of attracting investments into Telangana by signing pacts with US-based companies during his ongoing US tour are increasingly coming under a shadow of doubt, with the credentials of the firms and the people behind them being questioned. This is after it was found that one of the firms was just 16 days old, and had the Chief Minister’s brother’s name as one of the promoters.
BRS social media convenor Manne Krishank had on Tuesday first raised questions over the credentials of Walsh Karra Holdings, with which Revanth Reddy and the official delegation signed an agreement on Monday, but a bigger revelation came when more details of another firm, Swachh Bio, with which the delegation signed a pact on Tuesday, surfaced on X late on Tuesday night.
As per an official statement from the Chief Minister’s Office, Swachh Bio, a lignocellulosic biofuels manufacturing company, would soon establish a 250 KLPD second-generation, cellulosic biofuels plant in Telangana. The firm announced a capital investment of over Rs 1,000 crore, in the first phase, which it said would provide employment to 250 people at the plant, and 250 people in additional support and other roles.
Now, the most damaging revelation for Revanth Reddy – Swachh Bio is a firm that was incorporated just 16 days old, having been incorporated on July 21, registered with the Registrar of Companies in Hyderabad. And the contact email is jag.anumula@gmail.com, which is of one of the promoters of the company, Anumula Jagadeeshwar Reddy. And who is Jagadeeshwar Reddy? Revanth Reddy’s younger brother, who had returned from the US during the last Assembly polls to help him campaign in Kamareddy. All these are details sourced from multiple internet sources, including official ones, casting serious aspersions on the authenticity of the deals being signed by Revanth Reddy & Co.
Swacch Biogreen Private Limited also has Jagadeeshwar Reddy as one of its directors, as per the CIN/FCRN details of the firm. Another director is Vedavalli Shivananda Reddy. A CIN is a unique identification number issued to Indian companies by the Registrar of Companies, while FCRN is a registration number given to foreign companies.
Earlier in the day, Krishank had questioned the legitimacy of Walsh Karra Holdings, stating that it was incorporated only four months ago with just two directors, each holding fifty shares. Revanth Reddy & Co had signed an agreement with WKH on Monday for an investment of Rs.839 crore. Krishank pointed out that there were no financial statements regarding the company in public domain, unlike genuine companies.
He also pointed out that Revanth Reddy had signed a deal with another such fraudulent company, Godi India, during his visit to Davos earlier.
