BRS working president K T Rama Rao challenged Chief Minister A Revanth Reddy’s claim that the K Chandrashekhar Rao family owns properties worth Rs 1 lakh crore. He made the remarks after appearing before an ACB court in the Formula E-race case.
Updated On – 18 September 2026, 12:32 PM
Hyderabad: BRS working president KT Rama Rao on Friday ridiculed Chief Minister A Revanth Reddy’s claim that the K Chandrashekhar Rao family had amassed properties worth Rs 1 lakh crore, offering to hand over all their family properties to Revanth Reddy for Rs 1,000 crore.
“Revanth Reddy says our properties are worth Rs 1 lakh crore. Let him give us Rs 1,000 crore and take all our assets,” he said after appearing before the ACB Special Court at Nampally in the Formula E-race case. He suggested that the remaining of Rs 99,000 crore could be used to fulfil the Congress government’s promises to farmers and women.
Rama Rao accused the Congress government of spending the past three years targeting the Opposition instead of implementing its election promises. He cited the Rs 2 lakh farm loan waiver, Rs 15,000 Rythu Bharosa, crop bonus and fee reimbursement, besides farmers’ protests over power supply.
He said Revanth Reddy had repeatedly made exaggerated claims about the K Chandrashekhar Rao family and the Kaleshwaram project to divert attention from his government’s failures.
On Formula-E race case, the former Minister said it was intended to bring investments and promote Hyderabad as a destination for the electric vehicle industry. He pointed out that Tamil Nadu Chief Minister Vijay visited London to promote the motor sports, while Revanth Reddy cancelled the annual event of Formula-E race which was brought to Hyderabad by the previous BRS government.
He said he had appeared before the court twice in the case and would cooperate with the proceedings whenever summoned. He exuded confidence that the judiciary will ensure justice, despite the Congress government targeting them with a political vendetta.
The court adjourned the hearing to October 30. Rama Rao, along with officials Arvind Kumar, BLN Reddy and sports consultant Kiran Malleswar Rao, appeared in connection with the case.
The ACB alleged irregularities in the transfer of about Rs 55 crore by HMDA for the Formula E-race, including non-compliance with required approvals and financial procedures.
