BRS demands inquiry into Hyderabad land mortgage scandal, Congress refutes

Hyderabad: The opposition BRS on Friday demanded an inquiry by central agencies like CBI or Serious Fraud Investigation Office, into the “irregularities” of alleged mortgage of 400 acres of land adjacent to the University of Hyderabad to a private bank to raise Rs 10,000 crore via bonds by the Congress government.

Addressing a press conference, BRS Working President K T Rama Rao, without taking any names, alleged that a BJP MP was also involved in the mortgage issue and is helping the Chief Minister Revanth Reddy government in a ‘quid pro quo’ manner, terming it a massive “financial fraud”.

“We demand that the Centre order an inquiry by the RBI or CBI or SFIO or CVO to probe the issue. If they (Centre) don’t respond to our demand, it can be construed that the Congress government and the Centre are hand in glove in the whole issue,” he said.

Rama Rao said his party will also meet the Finance Minister and Prime Minister and appraise them of the issue.

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Refuting the KTR’s allegations, Congress State President Mahesh Kumar Goud in a press conference said the BRS leader is speaking with half knowledge and trying to gain political mileage.

The BRS and BJP are in cahoots and making UoH lands issue controversial thus downplaying the historic BC Survey undertaken by the Congress government, the Congress leader alleged.

“I am asking KTR. How many thousands of acres of land in and around Hyderabad was sold during BRS tenure. How many acres were given to your followers. How many acres of deforestation was done. People have not forgotten those days,” he said.

The BRS leader alleged that the 400 acres of land which the TGIIC (Telangana Industrial Infrastructure Corporation) has mortgaged to ICICI Bank actually does not belong to it as the state government did not alienate the land parcel to the TGIIC.

“The allegation is simple, the 400 acres of land which the TGIIC has mortgaged actually does not belong to it. And they took Rs 10,000 crore, even though they don’t have ownership, even though they don’t even have a document that they have land. And the ICICI Bank took part in this fraud and made such a big move,” KTR alleged, adding that SEBI should also investigate the issue as one of the transaction advisors is a listed company.

Rama Rao said he would write letters to RBI, CBI, CVO and SFIO seeking a probe into the matter.

ICICI Bank in a statement said it has not provided any mortgage loan to TSIIC.

“We would like to clarify that we have not provided any mortgage loan to Telangana State Industrial Infrastructure Corporation (TSIIC), and TSIIC has not mortgaged any land with us in relation to this bond issuance. We acted only as an account bank to TSIIC for receipt of bond issuance money and interest servicing,” it said.

The Telangana government’s plan to develop the 400 acres of land in Kancha Gachibowli here to create IT infrastructure has sparked protests by UoH Students’ Union. The BRS and BJP have also opposed the government’s decision.

The matter is now being heard in the Telangana High Court and the Supreme Court. Petitioners in the HC are alleging that the flora and fauna of the area will be negatively impacted by the Congress government in the state.

The apex court had directed the Central Empowered Committee to visit the place in question and submit its report prior to April 16, when the matter would be heard again.

The agitating students claim that the 400 acres belong to the varsity, while the state government asserts that the land belongs to it.

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