Kancha Gachibowli land row: ICICI bank gives clarification on mortgage loan to TSIIC

Hyderabad: A day after Bharat Rashtra Samithi working president KT Rama Rao accused chief minister A Revanth Reddy of orchestrating a massive Rs 10,000 crore financial scam involving Kancha Gachibowli lands near Hyderabad Central University (HCU), ICICI Bank has clarifier that the bank has not provided any mortgage loan to Telangana State Industrial Infrastructure Corporation (TSIIC).

In a statement, ICICI Bank has stated, "We would like to clarify that we have not provided any mortgage loan to Telangana State Industrial Infrastructure Corporation (TSIIC), and TSIIC has not mortgaged any land with us in relation to this bond issuance. We acted only as an account bank to TSIIC for receipt of bond issuance money and interest servicing."

KTR has claimed that the State government manipulated 400 acres of forest land adjacent to HCU to secure a Rs 10,000 crore loan from banks.

Kancha Gachibowli is one of the few remaining urban forests in Hyderabad. This habitat hosts a wide range of birds and animals. There are approximately 237 species of birds on the campus. It’s one among the few urban forest areas that houses Spotted Deer, Wild Boars, Star Tortoises and numerous snake species such as Indian Rock Python, Vipers, Cobras, Boas and Kraits. The government intends to develop world-class infrastructure in this government land through the Telangana Government Industrial Infrastructure Corporation Limited (TGIIC). Following which, student Union and locals have protested against the issue.

Earlier the week, the Telangana High Court has deferred the hearing of various petitions filed about tree felling at the Kancha Gachibowli forest area near the Hyderabad Central University campus till April 24.