Revanth’s Point-By-Point Answers To Allegations

Accusing KCR of stooping so low and making cheap allegations against him, Revanth Reddy has come out in the open today to clarify to the public. Calling KCR as Chillara and Cheap, Revanth said he is giving clarifications to people since he is in the public domain.

Revanth has spoken on the four burning topics.

1. Increase in Property Value from 2009 to 2014 from Rs 3 Cr to Rs 13-14 Cr

2. Benami Companies on his Banjara Hills Property (companies varying from 13 to 16 to 18)

3. Foreign Bank accounts in Hong Kong, Malaysia and crores of financial transactions through them.

4. Benami Assets

Revanth’s Clarification In His Own Words

Clarification 1 : Even before 2009, I had got elected to Legislative Council in 2007. Even then, I had declared my assets. In 2009’s election affidavit, the value of the assets declared were based on the government valuation during their purchase. Hence, I had declared the value of my assets at Rs 3 Crore. Whereas in 2014, as per the Election Commission’s fresh norm, all candidates have been asked to declare the assets based on the market value. As per the 2014’s market value, the value of lands and house were declared between Rs 13 Crore to 14 Crore. For example, if the Banjara Hills property was bought 25 years ago at around Rs 20 Lakh to 30 Lakh during the purchase, its market value in 2014 went up to Crores. So, the 2014’s election affidavit witnessed increase in my properties value.

In 2009, I had only shown the value of my Jubilee Hills plot. But when it comes to 2014, I had built a house in the Jubilee Hills plot taking bank loans. So, I’ve considered the market value of the house in Jubilee Hills in 2014 while declaring the assets in the Election Affidavit. Like wise, the agricultural land in Gopanapally, lands in Kokapet, Manchirevula, Vattinagulapally and in my native place Kondareddy Palle and properties in Kodangal all witnessed hike in 2014 affidavit due to mentioning of market value. All my election affidavits are in public domain and anyone can verify them. Hence there is no second opinion about them.

Clarification 2 : I had rented out my four storey building in Banjara Hills for offices who have registered their companies on that address. A few have been moved to other locations later and a few others were shut down due to losses of their owners. Myself, the building’s owner, is no where concerned to the business of my tenants.

Clarification 3 : How can any foreign national can own bank accounts in foreign banks of Hong Kong, Malaysia without proper proofs, documentation? As per their rules, a foreigner should have a job in their nation and have a property to have a bank account. Their laws and rules are so strict. I urge media to verify these basic things before writing baseless allegations against me. And having crores of transactions done through such accounts are false and fake.

I demand the national investigation agencies and the Chillara KCR & family to prove that I have bank accounts in Malaysia and Hong Kong. At least, I’d have felt happy if they had alleged that I own accounts in Swiss banks where any national could have account, quipped Revanth.

Clarification 4 : I have 7 brothers and 1 sister and if I include Seethakka, I’ve 9 siblings. Including their family and children, our’s is a very big family. Then why would I have benamis and put assets on their names instead of putting the assets in the name of my own family members?

My in-laws are very rich. They own multiples businesses and they had acres of lands in Hyderabad and elsewhere. They were into Kerosene distribution business and also used to lend money to farmers in those era. They were Crorepatis even before I was born. Their family owns several properties and most of the prominent lands in Hyderabad today were once sold by them to developers and developers had in turn sold them to buyers.

I’ve got married on May 7, 1992. Any media persons or anyone else could verify the properties of my in-laws before our marriage. Padmanabha Reddy garu, Jayaprakash Reddy garu, Swapna Reddy garu and all their relatives are all filthy rich. My father-in-law Padmanabha Reddy garu was wholesale kerosene dealer and he is national president of the Kerosene dealers union in those days.

PS :

After giving lengthy and detailed clarification, Revanth Reddy has took questions from media personnel and gave comprehensive answers to them. Revanth’s speech has given new boost to Congress leaders, party workers. Revanth also attacked a section of media for spreading wrong, fake propaganda against him, his family. He asked people not to trust such media outlets. He even breathed fire on a section of media folks for getting financial benefits from KCR & Co for targeting him. Over all, Revanth’s press conference is blockbuster.