Krishank accuses Revanth govt of shielding bogus MoUs, demands probe into Rs 345-cr deal with Rs 1-lakh company

BRS leader Manne Krishank accused the Revanth Reddy government of favoring fake companies while targeting genuine investors with cases. He called the Formula E prosecution against KTR political revenge and demanded a probe into a Rs 345 crore MoU with a Rs 1 lakh company.

Hyderabad: BRS leader Manne Krishank has alleged on Friday that those who brought genuine investment for the state were being slapped with illegal cases, while those signing bogus agreements were allowed to go scot-free.

Addressing a news conference at Telangana Bhavan, he questioned whether the ED and ACB would investigate the MoUs involving fraudulent companies and their dubious investment claims. He called on the investigating agencies to shift focus from the Formula E event to the alleged scam-ridden investment agreements of the present government.

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Krishank warned, “people are watching everything amd a they will give a fitting reply at the right time.” He stated that the prosecution sanction granted by the Governor against BRS working president K.T. Rama Rao in the Formula E-car racing case is nothing but political revenge.
Cong- BJP joint operation

He claimed that both Congress and BJP joined hands to secure Governor approval for KTR’s prosecution despite the original FIR in the Formula E racing case containing no mention of corruption or financial irregularities. “The entire case revolves around the cancellation of the event.”

Chief Minister Revanth Reddy claimed that the Formula E organisers had offered him a bribe, yet he never filed a complaint with any investigating agency,” Krishank alleged. “If there was really a bribe offer, why no FIR? The truth is Revanth stopped the race out of insecurity.”

Revanth Reddy had feared that a successful event would enhance the stature of K. Chandrashekhar Rao and K.T. Rama Rao. He described the Formula E race not merely as an event but as a major investment magnet that brought commitments worth Rs 700 crore to the state.

“Had more such events continued, Telangana would have attracted thousands of crores in real investment. Instead, Revanth Reddy is signing MoUs with bogus companies,” he charged.
Rs 345-cr deal with a Rs 1-lakh company

Krishank singled out the MoU signed in June 2025 with a company named Monkeymyn Bio Private Limited for Rs 345 crore investment, pointing out that the same company was registered only this month (November 2025) with a paid-up capital of just Rs 1 lakh in the name of a chartered accountant, Yatirajam Madhuseshu.

“A company incorporated with Rs 1 lakh paid-up capital is being handed a Rs 345-crore investment agreement? This looks like a clear conspiracy to convert black money into white or to garner the incentives in consideration for the startups. A thorough probe is needed to find out who is behind this company,” the BRS leader demanded.