Blow to KTR in Kancha Gachibowli challenge: ICICI Financial institution condemns KTR’s allegations

BRS working president KT Rama Rao obtained a blow in Kancha Gachibowli lands challenge. Inside hours after he made severe allegations in opposition to Telangana Authorities and ICICI Financial institution, the non-public sector financial institution condemned his allegations.

Opposition BRS MLA and former Minister KT Rama Rao held a press convention earlier within the day on Friday and made severe allegations in opposition to Telangana CM Revanth Reddy. He accused CM Revanth Reddy and a BJP MP of committing Rs 10,000 Cr monetary fraud in 400 acre Kancha Gachibowli lands challenge.

Whereas it’s regular for politicians to make allegations in opposition to one another, in KTR’s allegations ICICI Financial institution’s title sprang up.

KTR alleged that ICICI Financial institution has disbursed about Rs 10,000 Cr mortgage to Telangana Govt with out even verifying the land at floor stage. He accused Revanth Reddy Sarkar and ICICI Financial institution of colluding within the matter.

As KTR made severe allegations, ICICI Financial institution, instantly launched a media assertion on Friday night.

“We wish to make clear that now we have not supplied any mortgage mortgage to Telangana State Industrial Infrastructure Company (TSIIC), and TSIIC has not mortgaged any land with us in relation to this bond issuance. We acted solely as an account financial institution to TSIIC for receipt
of bond issuance cash and curiosity servicing,” mentioned ICICI Financial institution in its press launch.

Although ICICI Financial institution didn’t point out KTR’s title, it’s clear that the financial institution was pressured to challenge a direct press assertion, as a result of grave nature of allegations made by KTR, who isn’t just an Opposition MLA however was additionally a Minister holding necessary portfolios of Municipal Administration and City Growth, IT, Industries previously BRS Govt.

With ICICI Financial institution’s condemnation, KTR might be put in an embarrassing scenario. Already TPCC President Mahesh Kumar Goud rubbished KTR’s allegations as completely false and atrocious. Now the accountability is on KTR’s shoulders to show that his allegations have substance and aren’t simply politically motivated.