Krishank seeks answers from Revanth Reddy over Telangana land mortgage allegations

BRS spokesperson Manne Krishank has alleged that prime Telangana government land was undervalued for a Rs 12,818-crore loan. He questioned the mortgage arrangements, Beacon Trust’s role and KLSR Infra’s use of land in Jawaharnagar, demanding answers from Chief Minister Revanth Reddy

Hyderabad: Days after his dramatic arrest and release over allegations against Chief Minister A Revanth Reddy and his family of misusing official position for personal gain, BRS spokesperson Manne Krishank accused the Chief Minister of mortgaging prime government properties at undervalued rates to secure a loan of Rs 12,818 crore. He demanded answers on the valuation, ownership and use of the properties.

Addressing a press conference at Telangana Bhavan on Friday, Krishank alleged that land worth tens of thousands of crores of rupees was valued at a fraction of its market price to facilitate borrowing. He questioned why the government had not responded to his allegations and accused the Chief Minister and his associates of resorting to counterattacks instead of providing explanations.

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The BRS leader said land parcels in Izzatnagar, Mokila, Miyapur, Injapur, Chilkur, Patancheru, Gajularamaram and Jawaharnagar had been mortgaged to raise loans exceeding Rs 12,818 crore. He alleged that the land was valued at around Rs 15 crore per acre, despite its market price being substantially higher, at around Rs 150 crore per acre.

Krishank questioned the involvement of Mumbai-based Beacon Trust as an intermediary. He also raised concerns over land in Jawaharnagar, which he said had been allotted to Genpact in 2008 but was now being used by KLSR Infra to place containers.

“How can KLSR Infra place containers on land that has been mortgaged? What is the company’s connection with these lands? Has Revanth Reddy transferred land from Genpact to KLSR Infra?” he asked, demanding that the government clarify the transactions.

Krishank said the BRS was not questioning anyone’s personal assets but seeking accountability for Telangana’s public wealth. He recalled the agitation by University of Hyderabad students against the mortgaging of Kancha Gachibowli land and the subsequent reprimand issued by the Supreme Court to the State government, which forced it to step back. He alleged that the government was now putting other valuable public lands at risk.

He also referred to earlier BRS allegations that the Chief Minister’s family had amassed illicit assets worth Rs 52,000 crore, claiming that the latest land-related allegations raised further questions about the family’s affairs.

Krishank demanded that the Chief Minister and his family respond to questions about the land valuations, mortgage arrangements and KLSR Infra’s role.

“We are being intimidated with arrests and even threatened with physical attacks by Congress leaders in public for questioning the government. But the BRS will continue its efforts to protect the State’s assets,” he asserted.