Tolivelugu Crime Bureau: The National Institute of Tourism and Hospitality Management (NITHM), which was supposed to grow like an Indian business school, is in debt. A lot of anarchy is being done to cover up the mistakes. Recently in 2008, the agreement made to Maha Hotels came up for auction and it became a topic of discussion once again. Is there a title to the 26 acres allotted to NITHM? why did the CBI not take any action against cases of Laxminarayan Sharma, who took a loan of 205 crores for a 70-crore project? What is the real value of the bank saying that they will sell it for 69 crores as it is now? The Crime Bureau inquired about the scenario. Extortion of lakhs of crores of rupees has come out in the guise of corporate companies.
This is history! What is the title?
The National Institute of Tourism and Hospitality Management, which was started along with the Indian School of Business, is now in a subordinate position. Who are the factors behind all this? these details were earlier covered by Tolivelugu in various stories. Now, with the auction of 200 crores allocated by that company, it is the responsibility of the Tolivelugu to tell you the real truth. Therefore, those who are present should know what history is. In the land allotment during Chandrababu’s regime, only a panchnama was made and 26 acres were given to NITHM. Rs 10 crores have been allocated by the central government for that. With that money, the state government has spent 10 crores on the allotted lands. At that time even when the Rajasekhar Reddy government came, no title was given to the allotted land. It is alleged that the then Tourism Secretary Jayesh Ranjan was involved in the title dispute as the agreements were made according to his will. Even now, NITHM is not thinking in that direction, so there are more controversies. A letter should be written to the CCL after allocating the land by Panchnama. A letter should go from CCL to BSO (Board of Standing Orders). Land should be allotted with the then registration value or nominal value as land is being allotted there. But, all this did not happen. Organizations like this, which behave like public corporations, have a lot to give. But, without allotment of land, NITHM has announced that it is leasing 3 acres out of 26 acres to Maha Hotels for 33 years, and the shocking aspect of this is that they don’t have such rights as they are not titled to the lands. Even if it is given, the way of taking a loan with a project report has led to crimes.
205 crore loan for 70 crore
This lease case alone is enough to tell how corporate companies are robbing banks. Corporate fraudsters are sitting on guard with the decision to build 4-star hotels on 3 acres and provide training to students. Even knowing that there is no title, they took a loan of 205 crores at various stages for 70 crores in 2010 with development and agreement. The project which was supposed to be completed in 3 years was pulled off at the very beginning without doing it. In this regard, even after the Telangana government came, the actions were taken, but all of them have been beneficial. The cancellation of the lease by one of the 5 directors, which was to be canceled by the Tourism Secretary, became a controversy. They went to the court and made a fuss over the same cancellation. As a result, the criminal case has become a civil matter. CBI registered a case in 2018. But, still, the hotel has not taken any action against them. The reason for that is only civil litigations. The value of the same land is now more than 200 crores.
Does the center have information?
The Center has a stake in PPP projects. The Center allocated 10 crores for the NITHM project at that time. Buildings were built with that money. But, there are rules that should not be done without the knowledge of the center. The details of those replies are yet to be known. Even though the tourism department claims that there is a title, it is not in practice, but the CAG report of that day is a clear indication of what the current tourism secretary, NITHM director Chinnamreddy, who is running everything behind the scenes as if he knows nothing, needs to be clear.
Vasavi? With RGVL?
As part of the conspiracy, a team works to win bids for whichever company favors them. Vasavi group tried first. The liquidator told the Tolivelugu that it was rejected because it could not be given technically. The team held discussions with a company that has experience in hotels with the same agreement. They promised to renew for another 33 years. With this, the company was reminded of the Old Gandhi Hospital case in the past. There are rumors that the key person in the secretariat, his brother, the director of NITHM is leading the matter in order to reach an agreement and move forward.
Bankers are now in fear!
The tension that did not exist when the 205 crore loan was given for the 70 crore project is coming up while bidding with NCLT orders. CBI has also received a complaint and the investigation is going on. The officials found that the money taken was transferred to different companies. Recovery is going in that direction. But, with the drama of selling 205 crores as if it was there for ten years, the way they behaved saying that 69 crores are enough is surprising. The liquidator told Tolivelugu Crime Bureau that there is no connection between the subsequent recovery and the accused. But, there is no clarity on untitled land. They said that they are going according to NCLT orders. The Punjab National Bank affair has come to light in many CBI cases in the past. Now we have to investigate the attitude of the authorities in this case. What is the action against the officials who gave a loan of 205 crores and now what is the behavior of those who want to bid for 70 crores, it needs to be known.
Why did the government fail to take over?
Then the Cog broke the pot on allocation irregularities. Director Chinnam Reddy illegally canceled the lease which should be done by the Tourism Secretary and went to court. Now it has gone to the Supreme Court. Why didn’t HMDA take into account the most valuable 3 acres of land that the BRS government put up for sale as small plots for income? The government is also selling the assigned lands. No sale to private parties as the title cannot be given. Why are they taking a step back from the tender of 200 crores? Banks are trying to benefit some people in the name of loans. There is a need for the government to realize this. There is a responsibility to protect public wealth.