CM Revanth Reddy raises SBI-Telangana land dispute with Finance Ministry (Source-X)
New Delhi: The ongoing dispute over land ownership between SBI and Telangana government has taken a back seat following a complaint made by Chief Minister Revanth Reddy to the Finance Ministry. Reddy, who is camping in Delhi for the last two days, learnt to have complained to Finance Minister Nirmala Sitharaman and senior officials in the ministry. The controversy arose when the state government auctioned 5.09 acre land in Raidurg area in Hyderabad, the SBI challenged the auction asserting ownership of the land.
Sources said that SBI appears to have initiated steps to pacify over the controversy that arose due to a disputed land parcel. A delegation of SBI senior officials contacted Telengena Chief Secretary K Ramakrishna Rao and held discussions on the controversy. details are not known.
While the state government put up the land parcel for auction, the SBI challenged the decision in the High Court leading to a controvercy. The state government led by Revanth Reddy took a serious note of the SBI's action in taking to legal recourse and has been exploring various options including withdrawal of government's transactions from the largest public sector bank.
sensing the scope for the issue to flare up into a major controvercy and chief minister's complaint to the finance ministry, The SBI initiated steps to resolve the issue.
The Telangana government is upset over the SBI's attitude as it has reportedly offered another piece of land to the public sector bank but the bank preferred to take legal course.
When the SBI approached the High court, the Court declined to grant a stay on the auction and the dispute remains active with multiple legal challenges. On the other hand the state government suspects that local poltical involvement from opposition BRS party, which is using the Bank's legal actions to politicise the issue and damage Hyderabad's investment frielndly reputation.
