KTR Drops Bombshell: HCU Drama a Smokescreen for Congress Govt’s ₹10,000 Crore Scam

BRS Working President KT Rama Rao (KTR) has levelled serious allegations against the Congress government, accusing it of involvement in a ₹10,000-crore financial fraud related to the controversial Kancha Gachibowli lands.

The former IT Minister claimed that the Revanth Reddy-led government used forest land as collateral to secure a ₹10,000-crore loan from private lender ICICI Bank — a move he said violates multiple laws.

KTR emphasized that the 400 acres in question are classified as forest land and are currently under litigation. He asserted that the Telangana State Industrial Infrastructure Corporation (TSIIC) itself does not possess ownership rights over the land, and only a Government Order (GO) was issued for its transfer — with no follow-up or official mutation process to prove government ownership.

Detailing the alleged scam, KTR claimed that a BJP MP has been aiding the Congress government by facilitating the involvement of a merchant banker, Trust Investment Advisors Pvt. Ltd., which helped secure the loan by bypassing FRBM (Fiscal Responsibility and Budget Management) norms. He further alleged that the Congress government paid the firm around ₹169 crore as a bribe, after which another firm, Beacon Trusteeship, was brought in to manage the transaction.

According to KTR, half the scam proceeds — approximately ₹5,000 crore — may have been used to finance the Rythu Bandhu scheme, while the remaining ₹5,000 crore allegedly went to pay contractors in exchange for kickbacks.

“The Congress government is operating under a 3D model —Deception, Destruction, and Distraction,” KTR remarked.

It may be pointed out that tension has been brewing in the campus of Hyderabad Central University in Rangareddy district, where the government deployed bulldozers to flatten 400 acres of the forest land in a bid to auction the land for development. The government faced severe backlash for destroying biodiversity in an overnight operation.

“The HCU issue was not just an attack on biodiversity — it was a smokescreen for a massive land scam,” he alleged.

Speaking at a press conference in Hyderabad on April 11, KTR announced his intention to write to key authorities — including the RBI (Reserve Bank of India) Governor, Ministry of Corporate Affairs, SEBI (Securities and Exchange Board of India), Central Vigilance Commission, Serious Fraud Investigation Office, and the CBI (Central Bureau of Investigation) — demanding a thorough probe into the alleged scam.

Before concluding, he added that he would soon reveal the name of the BJP MP "running the show behind the scenes" in what he referred to as the "next episode."