BRS raises doubts over lender of ₹10,000 crore on Kancha Gachibowli land

BRS questions government over 400-acre land mortgage, demands transparency through white paper release.

HYDERABAD

The Bharat Rashtra Samithi (BRS) has raised serious doubts, as with whom the State government had mortgaged the 400-acre land parcel at Kancha Gachibowli following the statement issued by the ICICI Bank clarifying that it had not provided any mortgage loan to TGIIC and the latter has not pledged any land with the bank with regard to issuance of bonds.

However, the bank further said in its statement issued on Friday that they (bank) had acted only as an account bank to TGIIC for the receipt of bond issuance money and interest servicing, senior leader of the BRS and former minister T. Harish Rao said on Saturday.

He mentioned that Minister for Industries D. Sridhar Babu had replied to a question raised in the Assembly that the government had raised ₹10,000 crore through issue of bonds in December 2024 by mortgaging 400 acres of land allotted to TGIIC in Kancha Gachabowli.

In case the land was not mortgaged with the ICICI Bank, then with whom had pledged the government it? “Is it mortgaged with the brokerage companies of the bigwigs in the government and what’s the dark secret behind mortgaging the 400 acres land to raise ₹10,000 crore loan after tagging the land price at ₹75 crore per acre,” Mr. Harish Rao sought to know.

The BRS leader demanded that the government release a white paper on the status of mortgaging the 400 acres Gachibowli land so that people could know the facts.

On the other hand, the working president of the BRS, K.T. Rama Rao said different Congress leaders were speaking in different tones on the land mortgage issue. While the TPCC president B. Mahesh Kumar Goud was stating that the land was mortgaged to raise funds, a minister of the Revanth Reddy Cabinet was denying it.