Image Courtesy: Unique
According to the most recent information provided by the Election Commission of India, the Kerala-based Kitex Group gave the Bharat Rashtra Samiti (BRS) in Telangana electoral bonds valued at Rs. 25 crore.
The bond acquisitions by Kitex Group coincided with the completion of a garment manufacturer’s Warangal plant in Telangana and the commencement of building of another in Rangareddy.
On 17th July, the BRS cashed fifteen bonds totaling one crore that the group’s subsidiaries Kitex Children’s Wear Limited and Kitex Garments Limited had purchased on 5th July, 2023. A few months later, on 12th October, the two businesses purchased Rs. 10 crore worth of bonds, which the BRS cashed on 16th October.
The group claimed harassment from State Government officials and announced its withdrawal from a Rs 3,500 crore investment project in Kerala in June 2021. The group declared its intention to establish a garment plant in Warangal, Telangana, one month later in July 2021, with an initial investment of Rs 1,000 crore.
According to Minister KT Rama Rao, the factory is “getting ready to be launched in a few months,” as he stated on 16th June. The two Kitex businesses purchased bonds valued at Rs. 15 crore on 5th July, which was nearly three weeks later. The BRS cashed them on 17th July.
In the Ranga Reddy district’s Seetharampur, KT Rama Rao performed the ground-breaking ceremony for a second facility on 28th September which was an integrated fibre-to-apparel cluster. Two weeks later, on 12th October, Kitex paid Rs. 10 crore for electoral bonds, which the BRS cashed on 16th October.
