IRB has to shell down 25% of bid amount, not 10: Revanth

Hyderabad: Making public a purported draft concession agreement signed between HGCL and IRB Infrastructure Developers Limited, TPCC president A. Revanth Reddy said the company had to pay the agreed 25 per cent of the ₹7,388-crore bid amount for the ORR by Friday. According to him, the request for proposal for the deal said: “Pay to the Authority within “30” days of date of execution of Agreement, or any extended date agreed to by the Authority not exceeding 120 days, 25 per cent of the Concession Fee of an amount of Rs. by way of a demand draft drawn on a Scheduled Commercial bank in India in favour of the Authority, and payable at Hyderabad.” “We had wrongly pegged that IRB Infra had to pay 10 per cent of the amount even as we sought information under the RTI. On a comment by finance minister T. Harish Rao that the Congress did not have candidates in many seats, and that Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu not having a proper understanding of the situation in Telangana, Reddy said, “If he understands the situation in the state, better he should go to Osmania and Kakatiya universities sans police protection and chat with the students.” On the reported comments that there is no unemployment in the state, Reddy said, “When degree holders were asked to enlist online, 30 lakh youth enrolled themselves.