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Journalism of Courage
On Thursday, the Election Commission’s (EC) list of poll bond buyers revealed that Yashoda Super Speciality Hospital was the biggest donor in the healthcare sector with purchases worth `162 crore. But confusion soon arose about its identity as there were two chains with similar names — one based in Uttar Pradesh’s Ghaziabad city and the other in Telangana’s capital, Hyderabad.
A day later, it has become clear that the hospital listed in the electoral bond registry belongs to the Hyderabad-based corporate chain, which began as a modest clinic in 1989. The clinic’s founder, Dr G Surendar Rao, later collaborated with his brothers G Devender Rao and G Ravender Rao to establish Yashoda Hospitals.
Electoral bond data reveals that the hospital purchased 80 bonds across six tranches. The highest purchase, made in April 2022, amounted to Rs 80 crore. Additionally, according to the EC list, all three brothers individually donated `1 crore each on the same day: April 6, 2022.
According to the data, the first donation was made on October 4, 2021, just months after the second Covid-19 wave which triggered a massive surge in hospitalisations. Significantly, the hospital chain had come under the scanner when the Income Tax Department conducted raids in April 2020 at its branches in Secunderabad, Malakpet and Somajiguda. It had simultaneously searched the houses of the hospital’s directors as well. Reportedly, state health authorities had received around 170 complaints regarding exorbitant charges levied by Yashoda Hospital for the treatment of Covid-19 patients. It was these complaints that reportedly drew the attention of the Income Tax Department.
In April 2023, Congress leader Revanth Reddy — now the Chief Minister of Telangana — had claimed that the then chief minister K Chandrasekhar Rao’s relatives, “who manage Yashoda Hospitals”, had allegedly obtained land worth crores at “dirt cheap prices”.
Queries and calls to Yashoda Hospital representatives went unanswered.
According to the official records of Yashoda Healthcare Services Pvt Ltd (YHSPL), as of March 31, 2023, G Ravender Rao held the majority of shares: 29.56%. These records also indicate that Yashoda Super Speciality Hospital is listed as a partnership firm owned by G Ravender Rao, G Devender Rao and G Surender Rao, who are members of YHSPL and relatives of YHSPL directors.
Meanwhile, the Ghaziabad-based Yashoda Super Speciality Hospital has issued a statement making it clear that it did not purchase poll bonds. “In response to these assertions, Yashoda Super Speciality Hospital wishes to categorically state that it has not engaged in any such activities. The institution emphasizes its unwavering commitment to ethical practices and upholding the highest standards of integrity in all its operations,” the statement said.
“We kindly request individuals to thoroughly verify facts before making any assertions that could potentially tarnish the reputation of our esteemed institution on ethical grounds,” said a spokesperson.
