Raghava Constructions refutes Harish Rao’s allegations

Raghava Constructions (India) Pvt. Ltd. denied the ‘allegations’ made by BRSLP Deputy Floor Leader T. Harish Rao regarding evasion of seigniorage. The company also clarified that no immediate family members of Revenue Minister Ponguleti Srinivasa Reddy are involved in its operations.

Following the controversy that erupted around their company, Director D. Niranjan Reddy, in a statement issued here, said that the company had not received any notice from the Mines and Geology department either at its office or through its authorised representative. He stated that they came to know of the issue only after it was raised in the Assembly.

The company further clarified that Raghava Constructions (India) Pvt. Ltd. has never established or operated any crusher on its own at Kothwalguda village, Shamshabad mandal, Ranga Reddy district.

“Thirumala Metal Industry obtained a crusher owned by Raghava Constructions (India) Pvt. Ltd. on lease in 2024 for its crushing operations at Kothwalguda village,” he said.

He also stated that Raghava Constructions (India) Pvt. Ltd. is not responsible for the payment of seigniorage fee for the stocks available at the crusher/stock point, as the company is not carrying out any crushing operations.

The company further informed that its Directors are Ponguleti Prasad Reddy, Managing Director, and D. Niranjan Reddy, Director.