Tirupati TDR Bonds Scam: Panel to Complete Probe Next Month

Tirupati: Urban Development Minister Ponguru Narayana announced on Monday that the state-appointed panel investigating the Transferable Development Rights (TDR) bonds scam in Tirupati Municipal Corporation would conclude its inquiry by the end of next month.

Narayana told the media that the probe aimed to uncover misappropriation of funds of thousands of crores through suspected misuse of TDR bonds. Action would follow once the committee submits its report, he said.

The alleged financial irregularities are linked to the MCT and the Tirupati Urban Development Authority (TUDA).

The minister said the previous government facilitated questionable appointments across various municipal bodies and indulged in wrong actions. The present government has prepared an action plan for the next six months to address the pressing problems in the civic bodies, he said.

The minister also conducted a review of the ongoing development projects, pending funds, and related matters with officials from the MCT and TUDA.

Commissioner Mourya briefed the minister on the ongoing and upcoming development projects in Tirupati and raised issues like pending funds. TUDA in-charge Venkata Narayana presented a report on the authority’s developmental activities.

Acknowledging that the state government faced financial constraints, Narayana said chief minister Chandrababu Naidu was trying to secure more of central government funds to tide over the present situation. The funds would be secured soon, he said, and stressed the importance of carefully planning and prioritizing developmental projects.

Local legislators voiced their concerns during the meeting. Tirupati MLA Srinivasulu highlighted issues likeTDR bond misuse and pleaded for various civic improvements. Chandragiri MLA Pulivarthi Nani called for an investigation into alleged fund mismanagement by TUDA and sought increased allocations for urban development initiatives.

Narayana promised thorough investigations into all allegations and adequate fund allocations for projects.