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Time of India
2 days ago
- Politics
- Time of India
Hyderabad confidential: CM dodges flight chats, K Kavitha eyes the throne, Ghose panel gathers steam; what's brewing in politics
HYDERABAD: The Telangana chief minister's office has stopped making public the exact flight schedule of A Revanth Reddy 's visits to New Delhi these days. From what we hear, several Congress leaders have been using the information to book tickets on the same flight so that they can corner Revanth for those two-and-a-half hours and force him to listen to his requests, pleas, demands… Although he does lend an ear to party leaders on terra firma, the leaders know that catching him on a flight is the only way to get those extra few minutes with him. But, is pinning the chief minister down like this and irritating him the best way to get things done? Speech lost, Ramchander Rao goes extempore You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad Telangana BJP 's new chief N Ramchander Rao experienced a few tense moments during an event held in the suburbs to announce his elevation. He had a written speech ready, but in the rush and confusion of making last-minute arrangements, that crucial sheet of paper was misplaced. Rao later told confidantes that this turned out to be a blessing in disguise. He spoke extempore and the crowd loved it. But the real challenge for Rao is to use the same innovative skills to get some misguided missiles within his own party to follow rules and shoot straight. Kancha Gachibowli row shakes up TGIIC The recent appointment of the 2013-batch IAS officer K Shashanka as the vice-chairman and managing director of Telangana Industrial Infrastructure Corporation (TGIIC) is being seen as a move to shift E Vishnu Vardhan Reddy from the post. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Young Woman Lives in a Shed, Slams Viewers With The Interior Tips and Tricks Undo A little birdie tells us that chief minister A Revanth Reddy took the decision following advice from some senior bureaucrats after the state govt came under fire from the Supreme Court in the Kancha Gachibowli land issue. Vishnu handled the development of the Kancha Gachibowli land at the University of Hyderabad. He landed in trouble when the Supreme Court stalled the development citing a threat to biodiversity. Shashanka's appointment also helps with the Bharat Future City project. Ghose panel set to drop a few bombs All eyes are on the PC Ghose panel probing the Kaleshwaram irrigation project. Its extended term of office ends on July 31. Sources said the panel is likely to submit its final report before its term ends. So far, more than 100 officials, engineers, and also former chief minister K Chandrasekhar Rao, ex-ministers T Harish Rao and BJP MP Eatala Rajender have been questioned. Both KCR and Harish had held irrigation portfolios in the previous BRS govt tenure when the Kaleshwaram project was taken up. Eatala had served as finance minister in the BRS govt before joining BJP. The discussion in political circles is whether the panel's findings will be made public, as the state is set to go for panchayat and municipal polls and by-elections to a couple of assembly constituencies. The Kaleshwaram controversy played a big role during the 2023 assembly elections. Whether parties can cash in on it in future elections remains to be seen. Kavitha playing the waiting game for her dreams Following the political uproar surrounding her letter to BRS president, former chief minister K Chandrashekar Rao was leaked, BRS MLC and Telangana Jagruti leader K Kavitha is openly expressing her political aspirations. In a recent Telugu podcast, she mentioned that she holds the dream of becoming chief minister some day. If it meant waiting a couple of decades, she was ready for it. Patience, of course, is a virtue. But two decades can be a very long time in politics. Much can change in that extended timeframe. 2 officers manage Sigachi tragedy, win hearts Two young All India Service officers posted in Sangareddy were appreciated by the senior officers for their work in handling the aftermath of the Sigachi factory accident in which 46 died. IAS officer P Pravinya from the 2016 batch and IPS officer Paritosh Pankaj from the 2020 batch posted as collector and SP rose to the occasion and worked round the clock during the crisis. Not just the senior officers, even some of the exhausted juniors acknowledged their young bosses' patience in assisting families of the victims while coordinating with officials and senior political leaders. Tailpiece: Your lucky number can't always save you, after all Arrested Hyderabad Cricket Association (HCA) president A Jagan Mohan Rao is known to have told friends that '9' is his lucky number. That '9' was the number that secured his win in closely fought HCA elections in 2023. Jagan got 63 (6+3=9) votes and defeated his closest rival by just one vote. His villa number in a Gachibowli gated community is also 63. But as fate would have it, CID arrested him on July 9. Was this deliberate or by chance? The officers insist it was just a coincidence.
New Indian Express
27-06-2025
- Business
- New Indian Express
BRS leader Harish Rao asks SEBI to probe ‘irregularities' in TGIIC deals
HYDERABAD: Alleging 'serious irregularities and possible violation of SEBI rules' by the Telangana State Industrial Infrastructure Corporation (TGIIC), BRS MLA and former minister T Harish Rao on Thursday asked the Securities and Exchange Board of India to initiate appropriate action against the corporation under the provisions of SEBI Act, 1992 and allied regulations. Harish also wanted SEBI to investigate the process of land mortgage and loan/NCD issuance by TGIIC. In a letter to SEBI chairman, the former minister expressed concerns about regulatory breach, misrepresentation and lack of transparency by the TGIIC, which deserve SEBI's immediate scrutiny and intervention in the public and investor interest. 'The government of Telangana has sold 400 acres of land at 75 crore per acre. The TGIIC mortgaged 400 acres of land in the Kancha Gachibowli area to raise loans via non-convertible debentures (NCDs) or through merchant bankers and financial intermediaries. However, a Supreme Court-appointed Empowered Committee has already identified this land as forest-like, potentially protected under environmental and conservation laws. The Supreme Court slammed the Telangana government for deforestation in the Kancha Gachibowli area in Hyderabad and stated that the state should either restore greenery or be prepared to send its officers to jail. Using such land as collateral may amount to material misrepresentation or fraudulent omission of facts if such status was not disclosed to lenders or potential investors,' Harish said. The BRS leader said that the compliance concerns are: Regulation 4(2)(k) of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices) Regulations, 2003, misleading representation or omission of material facts, Regulation 29 of the SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021, false or misleading statements in offer documents and Section 11(2)(i) of the SEBI Act, 1992, empowering SEBI to prohibit deceptive practices in the securities market. Harish said that it was also reported that TGIIC's annual turnover is less than Rs 150 crore, yet the corporation has raised or is attempting to raise substantial loan amounts running into hundreds or thousands of crores, he said. 'This calls into question the corporation's repayment capacity, raising concerns over its financial soundness and possible risk of default, which could mislead lenders or investors unless transparently disclosed,' Harish said in his letter.
Hans India
27-06-2025
- Business
- Hans India
Harish urges SEBI to probe serious violations by TGIIC
Hyderabad: BRS senior leader T Harish Rao on Thursday urged Chairman of the Securities and Exchange Board of India (SEBI) to order an urgent investigation into serious irregularities and potential violations of SEBI regulations by the Telangana State Industrial Infrastructure Corporation (TGIIC) and the Government of Telangana. The BRS leader wrote a detailed letter to the SEBI Chairman. In the letter, Harish Rao raised strong objections over the mortgaging of 400 acres of land in the Kancha-Gachibowli region, land which has been flagged by a Supreme Court-appointed Empowered Committee as 'forest-like' and environmentally sensitive. The same land has reportedly been used to raise large sums through Non-Convertible Debentures (NCDs), allegedly without disclosing its legal and environmental status to lenders or investors. 'This is not just a financial violation; it is a betrayal of public trust and a misuse of natural resources for questionable financial engineering,' Harish Rao said. Harish Rao also flagged the financial capacity of TGIIC, noting that its annual turnover was reportedly less than Rs 150 crore, while it is raising thousands of crores rupees through NCDs, a move that raises red flags over repayment ability and disclosure norms. He further questioned the recent conversion of TGIIC from a private limited company to a public limited company, alleging that this structural change may have been carried out without full regulatory transparency or compliance with the Companies Act and SEBI guidelines. Rao further said that merchant bankers were paid over Rs 169 crore plus GST to structure these transactions, despite the questionable status of the land used as collateral. 'This issue concerns not only regulatory compliance, but also environmental responsibility and public interest,' he wrote, urging SEBI to investigate the entire chain of transactions and hold all parties accountable.
Time of India
27-06-2025
- Business
- Time of India
TGIIC in hot water: T Harish Rao flags shady land, dubious NCD deals; SEBI violations in focus
HYDERABAD: Former minister T Harish Rao has urged the Securities and Exchange Board of India (SEBI) to investigate alleged regulatory violations and financial irregularities involving the Telangana Industrial Infrastructure Corporation (TGIIC) and the govt. In a letter to the SEBI chairman on Thursday, Harish Rao objected to the mortgaging of 400 acres of land in Kancha Gachibowli, which a Supreme Court-appointed empowered committee has identified as 'forest-like' and environmentally-sensitive. He alleged that the land was used to raise large sums via non-convertible debentures (NCDs) without proper disclosure of its legal and environmental status to investors. "This is not just a financial violation; it is betrayal of public trust and a misuse of natural resources," he alleged. You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad Harish Rao said TGIIC's actions violated multiple SEBI regulations, including those governing fraudulent practices, NCD listings, and disclosure norms. He also questioned how a corporation with a turnover below ₹150 crore could raise thousands of crores through NCDs. He raised concerns over TGIIC's conversion from a private to a public limited company, alleging it may have bypassed regulatory transparency. Harish Rao claimed merchant bankers were paid over ₹169 crore plus GST for structuring the deals, despite the land's disputed status.
The Hindu
26-06-2025
- Business
- The Hindu
Harish Rao urges SEBI to probe Gachibowli land deal made in violation of norms
HYDERABAD Senior leader of the Bharat Rashtra Samithi and former minister T. Harish Rao has requested the Chairman of the Securities and Exchange Board of India (SEBI) to order an investigation into serious irregularities and potential violations of SEBI regulations by the Telangana State Industrial Infrastructure Corporation (TGIIC) and the Government of Telangana. In the letter addressed to the SEBI Chairman on Thursday, Mr. Harish Rao raised strong objections over the mortgaging of 400 acres of land in Kancha Gachibowli in the city, and it has been flagged by a Supreme Court-appointed Central Empowered Committee as 'forest-like' and environmentally sensitive. The land has reportedly been used to raise a huge loan through Non-Convertible Debentures (NCDs,) allegedly without disclosing its legal and environmental status to lenders/investors. 'This is not just a financial violation, but it is also misuse of natural resources for questionable financial engineering', Mr. Harish Rao said. Flagging the financial capacity of TGIIC, he noted that its annual turnover was reportedly less than ₹150 crore, while it was raising thousands of crores through NCDs, a move that raises red flags over the repayment ability and disclosure norms. He further questioned the recent conversion of TGIIC from a private limited company to a public limited company, alleging that this structural change could have been carried out without full regulatory transparency or compliance with the Companies Act and SEBI guidelines. Further, Mr. Harish Rao stated in the letter to SEBI that merchant bankers were paid over ₹169 crore plus GST to structure these transactions, despite the questionable status of the land used as collateral. He requested SEBI to investigate the entire chain of transactions and hold all parties accountable, and provided supporting documents.
