Ranya Rao-owned firm was granted 12 acres of industrial land in 2023 to start steel business
The DRI has also carried out a second arrest in the gold smuggling case of an associate of Ranya Rao.
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Ranya Rao, arrested for gold smuggling, was a major shareholder in Ksiroda India, granted land in Tumakuru. (File Photo)A company created in April 2022 in which Kannada actor Ranya Rao was the majority shareholder received a grant of 12 acres of industrial land in Karnataka’s Tumakuru from the then-BJP government in February 2023, an analysis of company and industrial land allotment records shows.
Rao was arrested by the Directorate of Revenue Intelligence (DRI) at the Bengaluru International Airport on March 3 for allegedly smuggling 14.2 kg of gold worth Rs 12.56 crore. Last Friday, a special court in Bengaluru handed Rao to DRI custody for three days.
The Karnataka Industrial Area Development Board (KIADB) confirmed this on Sunday, with its CEO Mahesh saying, “The land, located in Sira Industrial Area, Tumakuru district, was approved for allotment during the 137th State Level Single Window Clearance Committee (SLSWCC) meeting held on the same day…”
However, KIADB source said payment was not made by her firm and therefore the land was reverted to the KIADB.
The Registrar of Companies records show Rao was the major shareholder in a company called Ksiroda India, which was created in April 2022 after changing the name of a pre-existing firm called Bioenzo India Private Limited. While Rao holds the majority stake of 99,000 shares, her brother owns the remaining 1,000 shares in the company with a share capital of `10 lakh, records show.
On January 24, 2023, Ksiroda India was granted approval at the 137th panel meeting to establish a unit to manufacture steel and allied products at the Sira Industrial Area. KIADB was ordered to allot 12 acres in this regard.
“M/s Ksiroda India Private Limited has proposed to establish a unit for manufacture of steel products, TMT bars, rods and allied products with an investment of `138 crore, generating employment to about 160 persons…,” reads the proposal’s preamble approved by the then BJP government.
The government approval report states, “In the 100th Land Audit Committee meeting held on 02.01.2023, the representative of the company appeared before the panel and highlighted the project proposal and requested for approval of the project and allotment of 13.5 acres…”
After a panel cleared the proposal with a reduced allotment of 12 acres, the then-Karnataka government issued an order on February 22, 2023 directing the “KIADB to allot 12 acres of land”.
Second arrest in case
The DRI, which is investigating a gold smuggling syndicate following the arrest of Rao, has carried out a second arrest in the gold smuggling case of an associate of the actress.
The DRI arrested Tarun Konduru Raju, 30, on Sunday based on the information gathered from Rao revealing his role in the gold smuggling syndicate. Raju was produced at the home office of a special judge and was remanded in custody for five days.
Raju who comes from a prominent business family in Bengaluru is reported to have been associated with Rao for a long time.
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