In what it could be a shock to the TDP and Rayapati Sambasiva Rao the Andhra Bank has issued a press note to auction the assets belonging to Rao.
The bank will auction the assets of Rao in Guntur and New Delhi in connection with the pending debts of worth Rs 837.37 crore.
It has been widely reported that the bank officials will auction the 22,500-foot commercial building which is in Guntur's Aurendelpet along with a flat in Delhi on March 23. The Guntur and Delhi properties were tagged as Rs 16.44 crore and Rs 1.09 crore respectively.
In the name of Cherukuri Sridhar, Mallineni Sambashivrao, Rayapati Rangarao, Devika Rani, Lakshmi with Trans Trai India loan was taken from the Andhra Bank.
Jagadish, Rayapati Jeevan, Narayana Chowdary, Ranga Rao, Devika Rani, Lakshmi, CH Vani, and Jagan Mohan Yalamanchali were the guatantors in the case.