Hyderabad: The alleged multi-crore mortgage scam involving 400 acres of land in Kancha Gachibowli near the University of Hyderabad has taken a dramatic turn. BRS working president K.T. Rama Rao on Friday accused the Congress-led Telangana government of orchestrating a ₹10,000 crore financial fraud, with alleged involvement of a private bank and the backing of a BJP Member of Parliament.
At a press conference in Hyderabad, Rama Rao claimed that the state government, facing financial distress, attempted to bypass the Fiscal Responsibility and Budget Management (FRBM) Act by mortgaging forest-designated land. According to him, a brokerage agency facilitated the deal, securing a ₹10,000 crore loan through bond issuance, and allegedly received a ₹169 crore bribe for its role.
The BRS leader alleged that the land was neither officially transferred nor cleared for auction, yet was pledged by the Telangana State Industrial Infrastructure Corporation (TSIIC) to a private bank. “This is a financial scam of enormous proportions, with serious environmental consequences as well,” he said, warning that the bank involved had compromised its credibility and risked collapse.
Rama Rao further claimed that a BJP MP from Telangana influenced the bank’s decision to sanction the loan but declined to name the individual, despite repeated questions from reporters. “This MP used his clout to push the deal through,” he said, adding that the bank failed to conduct due diligence on the land’s ownership, which he asserted belongs to the University of Hyderabad.
The BRS now plans to take the issue to Delhi. “We will meet Prime Minister Narendra Modi and demand a thorough investigation,” Rama Rao said, calling on the PM to respond swiftly.
Meanwhile, the Telangana government has submitted its stance to the Supreme Court-appointed Central Empowered Committee (CEC), asserting that all forest and revenue norms were followed and that the land legally belongs to the State.
Reacting to the allegations, BJP state leaders challenged Rama Rao to name the MP he claims is involved, dismissing the accusations as political posturing.
As the political slugfest intensifies, all eyes are now on the Centre’s response and the fate of the controversial land deal.
