State Bank of India (SBI) is taking Telangana State to court over five acres of land it was supposed to get. SBI filed two writ petitions with Telangana High Court against government's move to auction this land at Hyderabad Knowledge Centre in Raidurg,Rangareddy district. Justice N.V. Shravan Kumar will hear case Thursday.
Just two days before,SBI's legal team put in petitions as lunch motions. Special Government Pleader Rahul Reddy asked for more time to gather instructions. SBI's senior counsels B.S. Prasad and N. Venkatraman said land was allotted in 2010 by then Andhra Pradesh government to State Bank of Hyderabad (SBH). SBH merged with SBI later. Bank paid ₹13.33 crore for land,got an allotment letter from Andhra Pradesh Industrial Infrastructure Corporation Limited (APIIC).
In 2011,APIIC and SBH signed agreement detailing land sale terms. SBI built a branch and three ATMs there. They submitted development timelines 2021,state canceled land allotment with memo .
Bank went to High Court, which sided with SBI,voiding government's memo and asking state to reconsider bank's request. Court's order made cancellation proceedings null. In another petition,High Court told government to proceed with SBI's office building project at site.
Despite court backing,SBI faced government appeals,which failed. On May 6,government issued notice for e-auction of land. SBI says this sale happened amid unresolved legal issues. Thursday's hearing will decide property's fate…
