Suspicions are being expressed on the companies announcing the investments of Chief Minister Revanth Reddy’s team, which is on a visit to America. Generally only reputed companies are invited by governments to set up plants in states. In contrast, the state government is entering into agreements with the anonymous companies that were formed yesterday.
In particular, the government’s agreement with Swachh Biogreen, owned by the Chief Minister’s brother Jagadishwar Reddy and later slightly changing details of that company by Chief Minister’s Office, leading to suspect some thing fishy going on.
Chief Minister’s Office (CMO) announced the firm’s investment plan on X. “Exciting news! After a productive meeting with Chief Minister @revanth_anumula and Industries and IT Minister @OffDSB, Swachh Bio, a lignocellulosic biofuels manufacturing company, has announced plans for a 250 KLPD (Kilo Litres Per Day) biofuels plant in Telangana,” the CMO exclaimed on Tuesday.
The CMO added that the investment would create 500 jobs, besides promoting sustainable growth in Telangana. Swachh Bio, the firm mentioned in the CMO’s tweet, has no digital presence. It doesn’t seem to exist in the United States.
Moreover, a company called Swachh Biogreen Private Limited, has been registered under the name of Jagadeeshwar Reddy Anumula, the chief minister’s brother. The CMO’s tweet mentioned Praveen Paripati.
While there is no visible connection between him and Swachh Bio, he is the owner of Virginia-based SuGanit Systems. The company, founded in 2006, dealt primarily with biofuels.
After the CMO’s tweet, many raised suspicions over how a virtually unknown company would invest Rs. 1,000 crores in Telangana. Tthere is also no available results on Swachh Bio in the National Corporation Directory, a platform that tracks corporations in the United States.
It was alleged that the CMO’s tweet referred to Swachh Biogreen Private Limited, a company registered in Hyderabad. The company, registered on 21 July 2024, is about two weeks old. Given its similar name, the opposition is questioning the deal’s legitimacy. Vedavalli Shivananda Reddy and Jagadeeshwar Reddy Anumula, Revanth Reddy’s brother, co-hold the company. The company has been registered as a beverage manufacturer.
