Hyderabad
The government lashed out at BRS president, KT Rao Rao, for his positions against Kancha Gachibowli Land and called them “meaningless, not factual and wild.”
The Minister of IT and Industries, D. Sridhar Babu, said Friday that after the lies based on the audio, the images and the videos manufactured in AI were exposed, has begun a new line of attack against the development of Hyderabad.
“The Government recently won the case of the Supreme Court Court with respect to recovering 400 acres of land in Kachibowli of a private player (m/s img Bharata), whom it was assigned the same in 2004, after a prolonged legal battle.”
The Government through one of its weapons, the Industrial Infrastructure Corporation of the State of Telangana (TGIIC), contacted the markets, including RBI, to raise funds, he said.
TGIIC designated IVAS, a CBRE subsidiary, an insplunctive and bankruptcy assessment consultant from India, (IBBI), in October 2024, that the value of the earth as ₹ 20,563 million rupees.
“The land is free of litigation, after the order of the Supreme Court. Any insinuation that said land does not belong to the government is contempt of the Court and a direct attack on the state development perspectives,” he said.
The minister declared that Nor TGIIC requested any loan from any bank, including ICICI, nor ICICI has not given any loan to TGIIC. “It is a total lie, and the government will use its legal instruments against anyone who tries to deceive people,” he said.
TGIIC has issued a unbroken, listing, senior, insured, taxable and exchanging unconverted convertible into a basic private placement, in response to which several investment / mutual funds have expressed confidence and inverted. Icici Bank is just a partner bank for the entire transaction.
Therefore, the government raised the axis of 10,000 million rupees per RBI guidelines and followed all the laws of the land, both central and state. In fact, he has issued a direct debit mandate in favor of RBI for bonds ₹ 9,995.28 million rupees, which the RBI has properly confirmed.
While it is not a bank that visits the field because no loan was tasks, in the name of investors, an obligations administrator had carried out an independent assessment of the Earth and verified that the Earth is adequate as a guarantee for said levels of valuation.
The brokerage company was selected based on a competitive bidding process and was a payment according to the standard industry standards.
He advised BRS not to deploy on each issue without reason and demanded that his leaders stop opposing the development of Hyderabad, saying that the meaningless reactions of the thesis do not unite well for democracy, the people and the state.
Published – April 11, 2025 09:46 PM IST