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Telangana Latest News: Chief Minister Anumula Revanth Reddy’s claims of attracting investments into Telangana by signing pacts with US-based companies during his ongoing US tour are increasingly coming under a shadow of doubt, with the credentials of the firms and people behind them being questioned. This is after it was found that one of the firms was just 16 days old and had the chief minister’s brother’s name as one of the promoters.
Questions over the credentials of Walsh Karra Holdings, with which Revanth Reddy and the official delegation signed an agreement on Monday, were first raised by BRS social media convenor Manne Krishank on Tuesday. But a bigger bombshell was to come a little later when more details of another firm, Swachh Bio, with which the delegation signed a pact on Tuesday, came to light on X late on Tuesday night.
An official release from the Chief Minister’s Office stated that a company manufacturing lignocellulosic biofuels, Swachh Bio, would soon set up a 250 KLPD second-generation cellulosic biofuels plant in Telangana. The company has promised to invest over Rs 1,000 crore in the first phase and said it would provide employment to 250 people at the plant and 250 people in additional support and other roles.
Now, the most damning revelation for Revanth Reddy: Swachh Bio is a firm that was incorporated just 16 days ago, having been incorporated on July 21, registered with the Registrar of Companies in Hyderabad. The contact email is [email protected], belonging to one of the promoters of the company, Anumula Jagadeeshwar Reddy. And who is Jagadeeshwar Reddy? Revanth Reddy’s younger brother, who came back from the US during the last Assembly polls to help him campaign in Kamareddy, All these details, sourced from multiple internet sources, including official ones, cast serious doubt on the authenticity of the deals being signed by Revanth Reddy & Co.
Jagadeeshwar Reddy is one of its directors, according to the details of its CIN and FCRN. The other is Vedavalli Shivananda Reddy. CIN is a unique identification number given to companies in India by the Registrar of Companies, while FCRN is the registration number given to foreign companies.
Krishank had earlier questioned the credentials of Walsh Karra Holdings, which was incorporated only four months ago with two directors having fifty shares each. Revanth Reddy & Co. entered into an agreement with WKH on Monday for an investment of Rs. 839 crore. Krishank had said that unlike genuine companies, no financial statements in relation to the company are in the public domain.
He further said that during his visit to Davos, Revanth Reddy signed a deal with another such fraudulent company called Godi India.
