BRS Alleges Tesseract Land Deal Exceeds MUDA Scam in Scale
BRS working president K.T. Rama Rao alleged a land allocation deal involving Chief Minister A. Revanth Reddy's brother is a scam larger than the Karnataka MUDA controversy. He stated the company, Tesseract Advanced Systems Private Ltd., received valuable land for a fraction of its worth despite lack
Key takeaways
- BRS leader K.T. Rama Rao alleged a land deal involving Chief Minister A. Revanth Reddy's brother's company, Tesseract, is a scam larger than the MUDA controversy.
- Tesseract was allegedly allocated land worth ₹200 crore for just ₹7 crore, despite having no employees and minimal paid-up capital.
- Kondal Reddy, Chief Minister Revanth Reddy's brother, is identified as the chairman of Tesseract.
- Rama Rao also claimed other relatives of the Chief Minister secured significant contracts during a US visit.
What Happened
Bharat Rashtra Samithi (BRS) working president K.T. Rama Rao held a press conference in Hyderabad on Tuesday, alleging that a land allocation deal involving Tesseract Advanced Systems Private Ltd. and Chief Minister A. Revanth Reddy’s brother is a significant scam. Rama Rao claimed the deal surpasses the scale of the Karnataka MUDA controversy.
According to Rama Rao, the state government, led by Chief Minister Revanth Reddy, allocated five acres of prime land in the Fourth City to Tesseract. Rama Rao stated the company lacks proper credentials and that Chief Minister Reddy’s brother, Kondal Reddy, is the chairman of Tesseract. He noted Kondal Reddy himself confirmed this on his LinkedIn profile and that the US Consulate had previously issued a statement identifying him as chairman.
Rama Rao further alleged that Tesseract had no employees and a paid-up capital of ₹1 lakh. Despite this, the company was allotted land valued at ₹200 crore for a sum of ₹7 crore. He also claimed that during a US visit, other relatives of the Chief Minister secured substantial deals, including a ₹1,000 crore deal by Jagadish Reddy (Swachh Bio) and a ₹1,137 crore AMRUT contract by S. Srujan Reddy.
Key Facts
- BRS working president K.T. Rama Rao alleged a land deal involving Tesseract Advanced Systems Private Ltd. and Chief Minister A. Revanth Reddy’s brother.
- Rama Rao stated the deal is larger than the Karnataka MUDA controversy.
- Chief Minister A. Revanth Reddy’s brother, Kondal Reddy, is identified as the chairman of Tesseract.
- Kondal Reddy’s chairmanship was stated on his LinkedIn profile and by the US Consulate.
- Tesseract Advanced Systems Private Ltd. reportedly had no employees and a paid-up capital of ₹1 lakh.
- The company was allotted land valued at ₹200 crore for ₹7 crore.
- Minister for Industries D. Sridhar Babu reportedly attempted to deny a link between Tesseract and Kondal Reddy.
- The company's annual report indicates it manufactures aerospace and defence equipment.
- Kondal Reddy met with a US Embassy representative following an arrangement by A. Revanth Reddy.
- Kondal Reddy is a member of the US India Strategic Development Forum executive board.
- Jagadish Reddy (Swachh Bio) reportedly signed a ₹1,000 crore deal during a US visit.
- S. Srujan Reddy reportedly secured a ₹1,137 crore AMRUT contract.
- The press conference was held at Telangana Bhavan in Hyderabad on a Tuesday.
Sources reviewed
Project Chintan independently synthesized and analyzed information cross-checked across the sources listed above.
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