BRS urges CM to get investments to Telangana from genuine companies

BRS alleges Telangana CM Revanth Reddy signing investment deals with fraudulent companies during US visit.

The Bharat Rashtra Samithi (BRS) has alleged that Telangana Chief Minister A Revanth Reddy is signing investment deals with fraudulent companies as part of his ongoing visit to the US.

Speaking to newspersons here on Tuesday, social media wing convenor of the BRS Manne Krishank stated that according to the Chief Minister’s office, an agreement was signed with Walsh Karra Holdings for an investment of ₹839 crore for the benefit of women in Telangana. The BRS leader questioned the legitimacy of Walsh Karra Holdings stating that it was incorporated only four months back with just two directors with a holding of 50 shares each.

He expressed doubts as to how a company that was struck-off could invest in Telangana adding that the company had no financial statements, whatsoever. (Strike off status of a company is a legal process wherein its directors can initiate closure of the business officially. When a business is voluntarily struck off, it is removed from the official register of companies and its legal existence is ended.)

Mr. Krishank recalled that the Chief Minister, along with an official delegation, signed a deal with GODI India, whose credentials were allegedly questionable, during his visit to Davos earlier this year. He pointed out that the Musi River Front project was being handled allegedly by Meinhardt, whose credentials too were suspicious.

The BRS leader sought to know whether the Chief Minister’s visit to the US was for seeking investments from fraudulent companies and requested the Chief Minister to bring investments to the State by genuine companies, the ones having good track record.