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AP Minister Ganta's Properties seized
By: Tupaki Desk | 23 Feb 2017 12:13 PM GMT
AP HRD Minister Ganta Srinivasa Rao is paying the price for being a guarantor for Rs 141.68 crore loan obtained by Pratyusha Resources and Infra Private Limited from Indian Bank in 2005. The borrowers haven't repaid it despite several notices and hence the Bank Officials begun attaching the assets to recover Rs 20.3.62 crore which include interest & penalties.
Apart from the assets of Pratyusha Estate Pvt Ltd & Pratyusha Global Trade Pvt Ltd, Properties of Ganta Srinivasa Rao, Company Directors Paruchuri Raja Rao, Paruchuri Prabhakar Rao, Paruchuri Venkata Bhaskar Rao, Kondayya Balasubrahmaniam and Nami Amulya have been attached by the Indian Bank from December 21st to 26th. As none of them came forward to settle the dues in the past 60 days, Indian Bank on Wednesday issued a position notice all the assets attached so far have been handed over by it.
Indian Bank Authorities have attached two more properties (A 6,000 sq ft flat in Saidapet of Kanchipuram Mandal in Tamil Nadu and 1st & 2nd floors of Lanco Hills Tower-5 at Manikonda in Telangana) of the loan defaulters recently.
Apart from the assets of Pratyusha Estate Pvt Ltd & Pratyusha Global Trade Pvt Ltd, Properties of Ganta Srinivasa Rao, Company Directors Paruchuri Raja Rao, Paruchuri Prabhakar Rao, Paruchuri Venkata Bhaskar Rao, Kondayya Balasubrahmaniam and Nami Amulya have been attached by the Indian Bank from December 21st to 26th. As none of them came forward to settle the dues in the past 60 days, Indian Bank on Wednesday issued a position notice all the assets attached so far have been handed over by it.
Indian Bank Authorities have attached two more properties (A 6,000 sq ft flat in Saidapet of Kanchipuram Mandal in Tamil Nadu and 1st & 2nd floors of Lanco Hills Tower-5 at Manikonda in Telangana) of the loan defaulters recently.
