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I will cooperate with ED, for the investigation: Nama Nageswara Rao
By: Tupaki Desk | 19 Jun 2021 9:33 AM GMT
Ruling TRS MP Nama Nageswara Rao, who was directed to appear before the court in connection with alleged bank fraud case has finally reacted to the case
The MP said, it's 40 years since Madhukan company was started.O worked hard to develop it.Even in the areas that has less accessibility, the company is laying roads.We didn't cheat any one. My two brothers are running the company, he said.
Adding further, Mr. Rao said he is not the Managing Director of any of the organisations. I will co-operate with ED in investigation. Chief Minister KCR and Khammam people are my strength, he added
Tracing back the case, Madhukan Company got the deal to construct a 163 kilometre long National Highway between Jharkhand's capital city Ranchi and Jamshedpur.For the project, the company took a loan of 1,029.39 crore from the Canara Bank led consortium of banks.
The ED had conducted searches in multiple locations earlier this month in this regard and seized crucial documents.
The MP is facing allegations of misusing the funds and directing over Rs 200 crore for foreign companies. The probe is underway and more details are awaited.
The MP said, it's 40 years since Madhukan company was started.O worked hard to develop it.Even in the areas that has less accessibility, the company is laying roads.We didn't cheat any one. My two brothers are running the company, he said.
Adding further, Mr. Rao said he is not the Managing Director of any of the organisations. I will co-operate with ED in investigation. Chief Minister KCR and Khammam people are my strength, he added
Tracing back the case, Madhukan Company got the deal to construct a 163 kilometre long National Highway between Jharkhand's capital city Ranchi and Jamshedpur.For the project, the company took a loan of 1,029.39 crore from the Canara Bank led consortium of banks.
The ED had conducted searches in multiple locations earlier this month in this regard and seized crucial documents.
The MP is facing allegations of misusing the funds and directing over Rs 200 crore for foreign companies. The probe is underway and more details are awaited.
