HYDERABAD: BRS working president KT Rama Rao alleged that the state govt resorted to a financial crime in the Kancha Gachibowli land issue.
He said that although the 400 acres of Kancha Gachibowli land was not officially transferred to the Telangana State Industrial Infrastructure Corporation (TGIIC), the corporation pledged the land and took a loan of Rs 10,000 crore from ICIC Bank.
“When the land was not alienated to TGIIC, how could the TGIIC take Rs 10,000 crore, and how did the bank allow it? After the SC gave a verdict last year in favour of the govt in the land dispute, the govt transferred the land to TGIIC by issuing a GO, not legally alienated or mutated to TGIIC. That means the corporation is not the owner of the land,” he alleged.
The BRS working president said he is writing letters to the Reserve Bank of India, Central Vigilance Commission, and Serious Fraud Investigation Office to probe the issue.
KTR said one consultancy and merchant banker was paid Rs 170 crore for facilitating the loan, violating the FRBM limits. He also questioned why the land value of Kancha Gachibowli was revised thrice, once at Rs 75 crore, Rs 52 crore, and Rs 41 crore per acre. This was a conspiracy to benefit some influential persons, he said.
KTR said Gachibowli land is forest land, and he mentioned that the SC in 1996 stated that even land with forest-like features can be considered forest land and need not be declared as reserve forest. The govt has no authority to sell or pledge such forest lands, he said.