BRS spokesperson Manne Krishank
Hyderabad: Bharat Rashtra Samithi (BRS) spokesperson Manne Krishank on Saturday, October 3, alleged that Telangana Chief Minister Revanth Reddy facilitated the conversion of Rs 13,000 crore in unaccounted money into legitimate funds through the Medicover Hospital deal and demanded an Enforcement Directorate (ED) probe into the matter.
Addressing a press conference at Telangana Bhavan, Krishank alleged that the Chief Minister was using his office to promote business interests connected to his family and demanded an ED investigation into their assets.
He alleged that the CM and his family have amassed assets and business interests worth more than Rs 50,000 crore in the last two years.
Krishank questioned the CM’s repeated participation in the inauguration of private healthcare establishments, while neglecting government hospitals and public healthcare infrastructure.
He alleged that the CM and his family promoted Medicover Hospitals while ignoring Warangal Super Speciality, Telangana Institute of Medical Sciences and Research (TIMS) Alwal, TIMS Sanathnagar, and TIMS LB Nagar.
This resulted in Medicover’s revenue increasing by 685.01 per cent in just one year before securing a Rs 13,200 crore deal with global investment firm KKR.
Krishank has alleged links between Maxbien Pharma, Medicover Hospitals and individuals connected to the Chief Minister’s family and demanded that the ownership structures, shareholdings, investments and financial transactions of these companies be independently investigated.
“These are not questions being raised in the air. We are placing documents, company records and financial details before the public and the investigating agencies,” Krishank said.
He said investigating agencies should examine the source of funds, beneficial ownership, shareholding patterns, related-party transactions and movement of money across the companies concerned.
Krishank challenged the Chief Minister’s family members to come forward for a public debate on the allegations.
“If the members of Revanth Reddy’s family come for a discussion and prove that my allegations are wrong, I will withdraw them, apologise and never speak about the Chief Minister’s family again,” he said.
He said the BRS would submit details and documents relating to the alleged business interests of the Chief Minister’s family to the President of India, Prime Minister Narendra Modi, Congress President Mallikarjun Kharge, Rahul Gandhi and leaders of all political parties in Telangana.
Krishank’s allegations come in the wake of CM Revanth demanding a probe into former chief minister K Chandrashekar Rao and his family’s assets.
Recently, while addressing a public meeting in KT Rama Rao’s constituency Sircilla, the CM said he is “ready to change his name” if he is not able to show five star hotels near Hitech City in the name of KTR and his close family members.
“KTR, if you have guts, seek white paper on your assets and the assets of your father, Santosh Rao and Harish Rao (both BRS leaders and KCR’s nephews) and other relatives,” he had said.
In response, KTR had said that he is ready for a probe by a sitting Supreme Court judge into his assets but also called a probe into Reddy’s assets.
He said he had started a hotel way back in 2006 with the income he earned when he worked in the US.
“Congress was in power in 2006. That hotel grew into three hotels in 20 years. Had I not been in politics, I would have made it 10. In 2009, I mentioned it in the election affidavit. I declared my assets, debt and the documents. What Revanth Reddy said was about what I mentioned in the 2009 affidavit,” he said. Reddy has not found anything new, he said.
This post was last modified on October 3, 2026 9:03 pm