T. Harish Rao | Photo Credit: Siddhant Thakur
Hyderabad
Leader Bharat Rashtra Samithi and former Minister T. Harish Rao asked the President of the Indian Council for Securities and Exchange (SEBI) to order the investigation of serious discrepancies and potential violations of SEBI by the state industrial industrial infrastructure Corporation (Tgiic) and the TELANGANY government.
In a letter addressed to the chairman of Sebi on Thursday, Mr. Harish Rao raised strong objections to a mortgage of 400 acres of land in Kancha Gachibowli in the city and was marked by the Supreme Court appointed by the Environmental and Environmental Sensitive Committee. The country was reportedly used to obtain a huge loan through non -convertible bonds (NCDS) without publishing a legal and environmental position to creditors/investors.
“It is not only a financial violation, but also abuse of natural resources for dubious financial engineering,” said Harish Rao. Tgic’s financial capacity sample noted that its annual turnover was reportedly less than 150 GBP crore, while it increased thousands of Crores via NCD, a step that increases red flags over the repayment and publication standards.
He also questioned the recent transformation of Tgic from a private company with a limited liability company with a limited liability company and claimed that this structural change could have been made without full regulatory transparency or compliance with the SEBI Act.
Furthermore, Mr. Harish Rao said in a letter to Sebi that traders were paid over 169 GBP Crore plus GST to structure these transactions, despite the dubious land condition used as collateral. He asked Sebi to explore the entire transaction chain and hold all parties responsible and provide support documents.
Published – June 26, 2025 9:16
