KTR Alleges Irregularities In Telangana Land Deal, Defence Firm Denies

Bharat Rashtra Samithi (BRS) working president KT Rama Rao (KTR) has alleged irregularities in the allocation of five acres of industrial land in Telangana to Hyderabad-based defence startup Tesseract Advanced Systems Pvt Ltd, questioning how land reportedly valued at Rs 200 crore was allotted for around Rs 7 crore.

KTR alleged that the company had a paid-up capital of only Rs 1 lakh and reportedly had no employees when the land allocation was made. 

He questioned the financial credentials of Tesseract and sought clarity on the role of A Kondal Reddy, who he claimed was presented as the company's chairman and represented it at official meetings.

"If Kondal Reddy has no connection with Tesseract, why was he presented as its Chairman and why did he represent the company at meetings? "KTR asked, while also questioning the basis for the alleged gap between the market value of the land and the amount paid for it.

The BRS leader demanded an inquiry into the roles of Chief Minister A Revanth Reddy, his brother, concerned ministers and officials involved in the allocation process. 

He said the BRS would approach the Governor and the Lokayukta and pursue available legal and constitutional remedies. KTR also asserted that government land should not be treated as private property.

Tesseract Advanced Systems, however, has rejected allegations of wrongdoing, stating that its land allocation by the Telangana Industrial Infrastructure Corporation (TGIIC) was completed in accordance with established government procedures.

Speaking to NDTV, the company said the allocation process took 15 months and that all applicable fees were paid as prescribed by TGIIC and the five-acre requirement was linked to the company's manufacturing capabilities and long-term expansion plans in the aerospace and defence sectors.

The company also added ragd Incorporated in April 2023, Tesseract holds DPIIT startup recognition valid until April 2033 and operates from IDA Jeedimetla in Hyderabad. 

Tesseract said its expansion plans necessitated additional land and that it applied through the prescribed process. 

It also cited AS 9100D and ISO 9001:2015 quality certifications, saying its systems have been audited by NVT Quality Certification International and accredited by ANAB.