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TGIIC mortgaged Kancha Gachibowli land without papers: KTR – The Times of India

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TGIIC mortgaged Kancha Gachibowli land without papers: KTR – The Times of India


Hyderabad: BRS working president KT Rama Rao on Friday accused the state govt of orchestrating a financial scam of Rs 10,000 crore pledging 400 acres of Kancha Gachibowli land.
KTR alleged though the land was not officially transferred to Telangana State Industrial Infrastructure Corporation (TGIIC), the corporation had mortaged it with ICICI Bank, which, without verifying the land records, had granted Rs 10,000 crore loan.
Speaking at a press conference at Telangana Bhavan, KTR described the whole transaction as a “criminal conspiracy” involving chief minister A Revanth Reddy. He said the govt not only looted public money but also caused irreversible environmental devastation, betraying the trust of people.
“When the land was not alienated to TGIIC, how can it borrow Rs 10,000 crore? How did the bank allow it. After Supreme Court verdict on the land last year in favour of the govt, the state had transferred it to TGIIC by issuing a GO, not legally alienated or mutated to TGIIC. That means the corporation is not the owner of the land legally,” he alleged.
However, an ICICI Bank spokesperson denied that the bank had provided a mortgage loan to TGIIC.
“We would like to clarify that we have not provided any mortgage loan to TGIIC and TGIIC has not mortgaged any land with us in relation to this bond issuance. We acted only as an account bank to TGIIC for receipt of bond issuance money and interest servicing,” the bank’s spokesperson said.
KTR demanded a probe by Reserve Bank of India, Central Vigilance Commission and Serious Fraud Investigation Office. He said he would be writing letters to the agencies on the entire episode. He also demanded that Rs 10,000 crore loan be revoked and Revanth as well as TGIIC officials be held accountable.
He also claimed there was a larger HMDA land scam worth Rs 60,000 crore and vowed to raise the issue in Parliament and courts, if needed.
Alleging that there was a criminal conspiracy, KTR questioned why value of Kancha Gachibowli land was revised thrice – Rs 75 crore, Rs 52 crore and Rs 41 crore per acre in one year.
“The govt inflated the value of 400 acres to Rs 30,000 crore in a June 2024 in the GO and reduced it to Rs 16,400 crore by Nov 2024, raising suspicion of a plan to transfer it to Revanth Reddy’s associates at a lower price. According to the stamps and registration department, the land’s actual market value is Rs 5,239.84 crore, exposing the gross overvaluation,” he said.
KTR alleged the bank relied on Trust Investment Advisor Pvt. Ltd., a brokerage firm which was paid Rs 169 crore by the state through Beacon Trusteeship. He claimed the land was classified as forest land under a 1996 SC ruling, but was illegally pledged without verifying ownership or obtaining environmental clearances.
He also alleged that a BJP MP facilitated the scam by introducing the brokerage company, enabling bank’s loan approval.
“This MP’s name will be revealed soon. The central govt’s inaction will confirm a BJP-Congress nexus,” he said.
KTR also accused the state govt of misusing the loan, meant for welfare schemes, to pay commissions to Congress loyalists.
“They claimed Rs. 5,000 crore went to farmers, but where is the rest?” he sought to know.





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Kochi Water Metro sails into third year with patronage of 4 million commuters

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Kochi Water Metro ferries berthed at the High Court terminal. As it steps into its third year, the Water Metro is set to expand its operations both within Kerala and across India.

The fleet of 19 air conditioned hybrid-electric Water Metro ferries that are operating in Kochi transported a total of 4 million commuters across 10 terminals in the Greater Kochi area, during the past two years.

They were from among the twenty-three 100-passenger ferries for which Kochi Metro Rail Ltd (KMRL) had placed an order with Cochin Shipyard. This first-of-its-kind water transport system in India that aims to introduce 78 ferries in the Greater Kochi area in a phased manner is being implemented by the Kerala government. It was officially launched on April 25, 2023.

As it steps into its third year, the Water Metro is set to expand its operations both within Kerala and across India. The project had won the Gussies Electric Boat Award-2022 in the commercial ferry category and the Skoch Award for excellence in offering services to the public in the transport sector. The Union government had plans to probe the feasibility of replicating the model in 21 locations across the country, said a KMRL release.

The agency’s MD, Loknath Behera, hoped that the system of water transport would bring in sustainability and affordability in public transport and help decongest roads.

A feasibility study to implement the Water Metro project in Mumbai has been submitted to the Maharashtra government by KMRL. The agency was also asked to conduct feasibility studies to implement the Water Metro system in 21 urban centers across 11 States and two Union Territories, it said.



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Kol-based mobile games startup to get Rs 1.2cr from Krafton | Kolkata News – The Times of India

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Sarthak.G: A city-based mobile games startup has been selected for the Krafton India Gaming Incubator (KIGI) and will receive up to Rs1.2 crore in financial support and technical assistance for one year. Krafton, a South Korean mobile games provider, included Advaita Interactive among six Indian companies in the second cohort of KIGI.
The startup, founded by Judhajit Sarkar, is developing Inspectorium, a detective game set in a Steampunk-inspired version of Victorian-era Kolkata. With episodic cases, real-time AI-powered interrogations and immersive puzzle-solving, the game would be released across mobile, PC and VR platforms by next year, said Anuj Sahani, head of the KIGI programme.
“There is a common perception that not much e-sports development happens in Kolkata. Advaita Interactive has shattered that perception. KIGI has expanded its cohort from four to six startups, extending its reach to emerging gaming hubs like Kolkata and Madurai, among others. We will provide funding to the startup over the next year along with technological support,” said Sahani.





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NEUFC hit MSC for a six, set up quarters date with JFC | Bhubaneswar News – The Times of India

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Notwithstanding the heartbreak of the ISL playoffs, the Highlanders fans got rights for the largest cheer in the pre-quarterfinals of Kalinga Super Cup with their star striker Alaaeddine Ajaraie scoring his first-ever hat-trick for the club as North East United FC routed Mohammedan Sporting 6-0 on a hot and humid afternoon in Bhubaneswar.
The treble from Ajaraie (18′, 57′, 90+3′), coupled with the opener from Jithin MS (3′) and strikes from Nestor Albiach (42′) and Guillermo Fernandez (66′) ensured that Juan Pedro Benali’s men romped to the quarterfinals with a show of confidence at Kalinga Stadium on Thursday.
It was a disappointing end to Mohammedan’s campaign that got very little time for preparation with Mehrajuddin Wadoo’s wards reaching the Odisha capital just three days back.
Later in the evening, a strong Jamshedpur FC contingent set up a quarterfinal with Benali’s NEUFC by beating Hyderabad FC 2-0 in the second match of the day.
Despite boasting a squad with all six foreigners, Khalid Jamil’s men faced a tough contest from the all-Indian Hyderabad side that stayed at the back to curb all of Jamshedpur’s efforts for a breakthrough.
The deadlock was broken just before the break when Ashutosh Mehta was fouled inside the box by Manoj Mohammed and Javier Siverio made no mistake in sending goalkeeper Arshdeep Singh the other way to convert from the spot.
It was a delightful move started by Siverio outside the box that led to a pass to Jordan Murray, who sent a low cross to an onrushing Stephen Eze who guided it into the goal. Replays, however, showed that the Nigerian was offside.
While NEUFC’s first and third goals were results of serious defensive lapses on the part of their rivals with an unmarked Jithin tapping in an Albiach cross inside the box in the third minute and the Spaniard turning scorer after another defensive error just before half-time, their second was a testament to the skill of Moroccan Ajaraie in front of goal.
The change of ends did not change the course of the game as the ISL Golden Boot winner powered in a rebound near goalmouth in the 57th minute and played provider to Spaniard Fernanadez nine minutes later.
Ajaraie completed his hat-trick from the spot after he was brought down inside the box in injury time.





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