Hyderabad (Telangana) [India], February 4 (ANI): Bharat Rashtra Samithi (BRS) Working President KT Rama Rao (KTR) alleged that Telangana Chief Minister Revanth Reddy is as soon as once more misusing 1000’s of crores of public cash and diverting it to his benami firm.
Speaking to ANI, KTR acknowledged that the corporate KLSR capabilities as a entrance entity for the Chief Minister and offered what he described as documentary proof to help his claims.
KTR asserted that KLSR had operated as a benami firm for Revanth Reddy from the outset and that the hyperlinks between the Chief Minister and the agency had been well-known.
He stated the Supreme Court had not too long ago issued notices to the Telangana authorities in search of clarification on large-scale monetary transactions persevering with throughout the firm regardless of its insolvency proceedings, in addition to on allegations of makes an attempt to affect judicial processes.
According to KTR, fearing that his benami operations could be uncovered, Revanth Reddy orchestrated what he termed a political drama from Davos below the guise of forming a Special Investigation Team (SIT) so as to divert public consideration.
KTR demanded that an instantaneous investigation be launched into the corporate and that each one operations of the bancrupt agency be halted till the probe is accomplished. He additional referred to as for the corporate to be blacklisted and for all contracts allegedly secured with out eligibility to be cancelled.
KTR recalled that enforcement companies carried out raids on KLSR in 2018 and that the media on the time reported hyperlinks between the corporate and Revanth Reddy, then the PCC president. Despite the agency subsequently getting into insolvency proceedings earlier than the National Company Law Tribunal (NCLT), KTR alleged that, after assuming workplace, the Chief Minister facilitated the award of main authorities contracts to the corporate.
He additional acknowledged that Income-Tax raids had been carried out on Revanth Reddy’s kinfolk on September 27, 2018, throughout which transactions between Sai Mourya Estates and KLSR had been uncovered.
According to him, funds from Bhopal Infra and Sai Mourya had been traced to accounts linked to the Chief Minister’s kinfolk.
KTR stated that in July 2023, disputes between KLSR and one other firm led each events to strategy the National Company Law Tribunal. Subsequently, KLSR filed a Corporate Insolvency Resolution Petition, after which monetary transactions had been restricted.
He alleged that makes an attempt had been later made to exert strain on an NCLT choose by a senior judicial middleman, prompting the choose to recuse himself from the case after disclosing the matter.
KTR claimed that Revanth Reddy was the important thing determine working behind the scenes to safe beneficial rulings for the corporate, citing the agency’s alleged monetary dealings with Sai Mourya, an organization linked to the Chief Minister’s brother-in-law.
He alleged that funds had been routed by KLSR to amass massive tracts of land and reiterated that enforcement companies had beforehand recovered proof throughout their investigations.
KTR alleged that regardless of its insolvency, KLSR secured authorities initiatives price almost Rs 6,000 crore below the current administration, together with works associated to AMRUT Scheme, Jal Jeevan Mission, Young India Residential Schools, Telangana irrigation initiatives, and Road growth initiatives.
He demanded that the Chief Minister clarify how such a financially distressed firm was awarded contracts of this magnitude, significantly within the Municipal Administration Department and within the Chief Minister’s personal constituency.
KTR questioned how an bancrupt agency from 2023 onwards could possibly be awarded authorities contracts between 2024 and 2026, and famous that the Supreme Court had raised issues concerning the firm’s potential to furnish huge financial institution ensures regardless of allegedly missing even Rs 15 lakh to pay worker salaries.
He stated, ‘The apex courtroom directed each the Centre and the State to research the influx of tons of of crores into the corporate and look at makes an attempt to affect judicial proceedings.’
‘The Supreme Court additionally issued notices in search of investigations by the Central Bureau of Investigation (CBI), the Serious Fraud Investigation Office (SFIO) and the Enforcement Directorate (ED),’ KTR acknowledged.
He alleged that so as to divert consideration from these notices, Revanth Reddy orchestrated a political spectacle utilizing SIT notices regarding phone tapping instances involving BRS leaders, together with Harish Rao, Santosh Rao and celebration chief Ok. Chandrashekar Rao.
KTR stated the Chief Minister personally issued directions from Davos to run what he referred to as a distraction marketing campaign.
KTR questioned why the Chief Minister had allegedly hid the Supreme Court notices calling for an investigation into the Rs 6,000-crore contracts and monetary irregularities involving KLSR.
He demanded readability on whether or not the Chief Minister’s curiosity within the bancrupt firm stemmed from commissions, a partnership, the laundering of unlawful wealth, or direct possession.
KTR urged the Telangana authorities to right away enable an neutral CBI-led probe as directed by the Supreme Court. Until then, he demanded the cancellation of all contracts awarded to KLSR, suspension of ongoing works, blacklisting of the corporate from future tenders, and a complete investigation by ED and SFIO.
He additionally referred to as on Union Minister G. Kishan Reddy to strain the Centre to make sure an neutral inquiry, stating that if the BJP was not shielding Revanth Reddy, it should reveal its sincerity by supporting the probe.
KTR concluded by asserting, ‘The matter concerned corruption, prison conspiracy, abuse of energy and alleged cash laundering, and demanded instant motion from each the Centre and the State governments.’ He stated authorities should halt all operations of the KLSR firm till a full investigation is accomplished. (ANI)