Tesseract land deal is bigger than MUDA scam, says KTR
HYDERABAD Working president of the Bharat Rashtra Samithi (BRS) K.T. Rama Rao has alleged that the Tesseract land deal of Chief Minister A. Revanth Reddy’s
HYDERABAD Working president of the Bharat Rashtra Samithi (BRS) K.T. Rama Rao has alleged that the Tesseract land deal of Chief Minister A. Revanth Reddy’s brother is bigger than the MUDA (Mysuru Urban Development Authority) scam in Karnataka that had cost K. Siddaramaiah his Chief Minister’s post as the Lok Ayukta had faulted allotment of 3 acres land to his wife. Speaking to the media here on Tuesday, he alleged that the State Government led by Mr. Revanth Reddy had allotted 5 acres of highly valuable land in the Fourth City to his brother without proper credentials to his firm — Tesseract Advanced Systems Private Ltd.
Revanth Reddy’s brother Kondal Reddy was the chairman of the company and it was ratified by Mr. Kondal Reddy himself in his LinkedIn profile. Yet, Minister for Industries D. Sridhar Babu was trying to justify that there was no link between the Tesseract and Mr. Kondal Reddy, forgetting that fact that Mr. Kondal Reddy himself had claimed as the chairman of the company. The company had claimed in its annual report that it was into manufacturing aerospace and defence equipment and Mr. Kondal Reddy had a meeting with the US Embassy representative in Hyderabad following Mr. Revanth Reddy’s arrangement of the meeting.
Kondal Reddy was made a member of the US India Strategic Development Forum executive board. Stating that he was not aware of the academic/professional qualifications of Mr. Kondal Reddy, Mr. Rama Rao said the US Consulate here had also issued a statement in the past that Mr. Kondal Reddy was the chairman of Tesseract. On enquiry they had found some ‘astonishing’ details about the company including that it had no employees on its rolls and it has a paid-up capital of ₹1 lakh. However, the Congress Government had allotted ₹200 crore worth land to Tesseract for just ₹7 crore, the BRS leader said and alleged that during a visit to the US, Mr. Revanth Reddy’ another sibling Jagadish Reddy (Swachh Bio) had signed a ₹1,000 crore deal and Mr. Revanth Reddy’s brother-in-law S.
Srujan Reddy had secured a ₹1,137 crore AMRUT contract.
The BriefWire