Benami firm row: KTR seeks probe on RR
Bharat Rashtra Samithi (BRS) working president K.T. Rama Rao on Wednesday demanded an investigation into Telangana Chief Minister Revanth Reddy’s alleged ‘benami’ company.
Addressing a press conference, KTR claimed that KLSR functions as a front entity for the Chief Minister and claimed to have evidence to support his claims.
The BRS leader asserted that KLSR had been operating as a ‘benami’ company for Revanth Reddy from the very beginning.
He said the Supreme Court recently issued notices to the Telangana government seeking clarification on large-scale financial transactions continuing in the company despite its insolvency proceedings, as well as allegations relating to attempts to influence judicial processes.
KTR alleged that Revanth Reddy orchestrated what he termed a political drama from Davos under the guise of forming a Special Investigation Team (SIT) in the alleged telephone-tapping case in order to divert public attention.
He demanded that an immediate investigation be launched into the company and that all operations of the insolvent firm be halted until the probe is completed. He further called for the company to be blacklisted and for all contracts allegedly secured without eligibility to be cancelled.
KTR said that enforcement agencies had carried out raids on KLSR in 2018 and that the media at the time had reported links between the company and Revanth Reddy, who was then the state Congress president.
Despite the firm subsequently entering insolvency proceedings at the National Company Law Tribunal (NCLT), KTR alleged that the Chief Minister, after assuming office, facilitated the award of major government contracts to the company.
He further stated that Income-Tax raids were conducted on relatives of Revanth Reddy on September 27, 2018, during which transactions between Sai Mourya Estates and KLSR were unearthed.
The BRS leader said that in July 2023, disputes between KLSR and another company led both parties to approach the National Company Law Tribunal. Subsequently, KLSR filed a Corporate Insolvency Resolution Petition, after which financial transactions were restricted.
KTR claimed that Revanth Reddy was the key figure working behind the scenes to secure favourable rulings for the company, citing the firm’s alleged financial dealings with Sai Mourya, a company linked to the Chief Minister’s brother-in-law.
He alleged that funds were routed through KLSR to acquire large tracts of land and reiterated that enforcement agencies had previously recovered evidence during their investigations.
KTR alleged that despite its insolvency, KLSR secured government projects worth nearly Rs 6,000 crore under the present administration, including works related to AMRUT Scheme, Jal Jeevan Mission, Young India Residential Schools, Telangana irrigation projects and road development projects
