With the Bharat Rashtra Samithi (BRS) raising concerns about the Telangana government signing an MoU with a US firm where Chief Minister A. Revanth Reddy’s brother is a director, state industries and information technology minister D. Sridhar Babu sought to clarify the situation on Saturday.
On August 6, the Chief Minister signed an MoU with Swachh Biogreen Private Limited during his visit to the US for the establishment of a cellulosic biofuels plant in Telangana, with an investment of Rs 1,000 crore.
The BRS highlighted that the company was established on July 21, with Revanth Reddy’s brother, Anumula Jagadeeshwar Reddy, serving as one of its directors, and questioned the swift signing of the MoU within 15 days.
Sridhar Babu countered the allegations, calling them a misinformation campaign.
“Swachh Bio may have been incorporated recently, but it has partnered with Suganit Renewables and holds eight patents in the bioethanol production cycle, including 2G ethanol technology,” he said.
He added that the company and its partners have secured substantial resources and have plans to set up multiple units in Telangana.
“The MoU we signed was a standard agreement, and the government has not provided any special incentives or land for the project,” he explained.
The BRS also noted that Vedavalli Shivananda Reddy, another director of Swachh Bio, is also a director at Gourmavens Private Limited since February 2022 and was a director at Archeesh Health Care Private Limited for a month in 2017. Gourmavens is involved in the hotel and hospitality industry.
The minister responded by stating that if an NRI wants to conduct business in Telangana, it should not be hindered simply because of familial connections, as long as the business operates legally.
“The CM's brother also wants to contribute to the state, and there is nothing wrong with that,” he concluded.
