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Former TDP Minister's son Gets CBI notices
By: Tupaki Desk | 22 Feb 2016 2:45 PM IST
CBI has sent notices to another bigwig. The investigating agency has filed case on former CBI director and TRS leader Vijaya Rama Rao's son, Srinivas Kalyana Rao. The case was filed as the latter has defaulted loans attuned to over 300 crores to three banks.
Srinivas Rao has mortgaged his property and took loans from three banks. As per reports he took loan of 124 crores from Central Bank, 120 crores from Corporation Bank and 60 crores from Andhra Bank. He has defaulted the payments and when banks checked the properties mortgaged, it was found that they are nonexistent and bogus.
The Banks have lodged a complaint with the CBI and the investigating authority filed the case immediately on Srinivas Kalyana Rao.CBI even raided Srinivasa Rao's house and offices in Chennai and Hyderabad simultaneously.
Vijaya Rama Rao, known as an upright officer and joined TDP after his retirement. He was elected from the Khairatabad assembly constituency and became a minister in the NTR cabinet. Recently he shifted loyalties to TRS.
Srinivas Rao has mortgaged his property and took loans from three banks. As per reports he took loan of 124 crores from Central Bank, 120 crores from Corporation Bank and 60 crores from Andhra Bank. He has defaulted the payments and when banks checked the properties mortgaged, it was found that they are nonexistent and bogus.
The Banks have lodged a complaint with the CBI and the investigating authority filed the case immediately on Srinivas Kalyana Rao.CBI even raided Srinivasa Rao's house and offices in Chennai and Hyderabad simultaneously.
Vijaya Rama Rao, known as an upright officer and joined TDP after his retirement. He was elected from the Khairatabad assembly constituency and became a minister in the NTR cabinet. Recently he shifted loyalties to TRS.