Telangana's BRS Working President KT Rama Rao (KTR) has leveled serious allegations against the state government, accusing it of being involved in a large-scale financial scam related to a disputed land deal in the vicinity of Hyderabad University. KTR has claimed that the state government, led by Chief Minister K. Chandrashekar Rao, is attempting to falsely lay claim to 400 acres of land, which he argues has been at the center of a major fraud.

Speaking to the media, KTR accused the government of orchestrating a massive financial fraud with the involvement of ICICI Bank and a broker firm, Beacon and Trust Advisors. "The government claims the 400 acres of land to be its, but this is part of a larger fraud that has been perpetrated with the help of an intermediary," KTR stated. He further alleged that ICICI Bank, despite being a financial institution with due diligence protocols, sanctioned a loan of Rs 10,000 crore without following proper procedures.

"This Rs 10,000 crore is public money, and such a move cannot be taken lightly," KTR emphasized. He accused the bank of possibly bowing to pressure from the Chief Minister and his associates, blindly approving the loan despite the lack of proper verification.

Asserting the gravity of the situation, KTR revealed that he has written formal letters to the Governor of the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI) to demand a full inquiry into the financial irregularities. He also claimed that there was a "quid pro quo arrangement" involving a BJP Member of Parliament and the Chief Minister, hinting at a deeper political connection to the alleged scam.