NTR Memorial Trust
xx.On 15.2.1997, the NTR Memorial Trust was founded, with the Chief Minister Sri Naidu as both the Settlor and the Trustee, and Sri Seetharamaiah (his auditor) and Sri D.Srinivasa Rao (Member, TDP) as the other Trustees. Ostensibly the object ofthe Trust was charitable in nature. It is to be understood in no uncertain terms that although NTR Trust is registered as a Public Charitable Trust, Mr Naidu has absolute strangle hold on the organization. The Trust holds highly valuable real estate and other projects, all of which can become the private empire of Mr Naidu as the present Members of the so called Public Charitable Trust are Mr Naidu, his wife and his auditor, who has no personal stake.
yy.Within a few months, this Trust applied to the Government for allotment of land, which was granted by Sri Naidu with alacrity. As a result, a piece of land in the prime area of Banjara Hills admeasuring 4000 sq. yds. was granted to the Trust on a 30-year lease on a nominal lease/rent. The G.O. issued in this regard made it clear as a condition of the lease that the land would not be used for political activities or commercial purposes.
zz. However, within a few weeks, the Trust applied once again to the Government to grant a relaxation to permit it to rent the land for the purpose of political activity. Unsurprisingly, the Government obliged and the G.O was duly amended permitting for political use occasionally. But is has been used continuously for the political purposes and the basic concept of Charity and other motives of the trust are totally defeated. More
