BRS accuses CM of signing deals with fraudulent cos in US

Hyderabad: The BRS accused Chief Minister A Revanth Reddy on Tuesday of singing ‘fraudulent investment deals’ in his ongoing trip to the USA.

The BRS leader, Manne Krishank, addressed a press meet at Telangana Bhavan on Tuesday. He mentioned that an agreement was signed with Walsh Karra Holdings for an investment of Rs 839 crore, stating that it would benefit Telangana women, according to the CM’s office. However, he questioned the legitimacy of Walsh Karra Holdings, stating it was incorporated only four months ago with just two directors, each holding fifty shares. He expressed scepticism about how the owner of a struck-off company could invest in Telangana. He said that there were no financial statements regarding the company.

Krishank recalled that Revanth signed a deal with a fraudulent company, Godi India, during his visit to Davos. He pointed out the inflated estimates for the Musi project, which increased to Rs 1.5 lakh crore, and the lookout notice issued against the company Meinhardt handling the project. He questioned whether CM Revanth Reddy’s visit to the US was for seeking investments from fraudulent companies, reminding that it was an official visit, not a private one. Krishank urged the CM to bring genuine companies for investments in Telangana.

Krishank concluded by urging that any agreements made by CM Revanth should be with companies with a good track record. He emphasised the significant increase in investments during KCR's tenure. Krishank highlighted that IT investments surged under the BRS rule but noted a sharp decline in investments from 2023 to 2024.