Hyderabad, Feb.4 (RAHNUMA): Bharat Rashtra Samithi (BRS) working president K.T. Rama Rao alleged that Chief Minister A. Revanth Reddy is once again misusing thousands of crores of public money and diverting it to his benami company.
Addressing the media at Telangana Bhavan on Wednesday, KT Rama Rao stated that the company KLSR functions as a front entity for the Chief Minister and presented what he described as documentary evidence to support his claims.
KTR asserted that KLSR had been operating as a benami company for Revanth Reddy from the very beginning and that the links between the Chief Minister and the firm were well-known.
He said the Supreme Court had 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.
According to KTR, fearing that his benami operations would be exposed, Revanth Reddy orchestrated what he termed a political drama from Davos under the guise of forming a Special Investigation Team (SIT) in order to divert public attention.
KTR 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.
The BRS working president recalled 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 PCC 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 also called upon Union Minister G. Kishan Reddy to exert pressure on the Centre to ensure an impartial inquiry, stating that if the BJP was not shielding Revanth Reddy, it must demonstrate its sincerity by supporting the probe.
KTR asserted that the matter involved corruption, criminal conspiracy, abuse of power and alleged money laundering. He said authorities must halt all operations of the KLSR company until a full investigation is completed.
