HYDERABAD: The CBI carried out searches on the premises of former TDP MP Rayapati Sambasiva Rao at his native place in Guntur district and Hyderabad. Special teams from New Delhi along with the Andhra Pradesh CBI team were involved in these raids which started at 8 in the morning and lasted till evening. This was in connection with a bank fraud case and the sleuths are verifying various records about transactions of the Trans Troy company he owned. A few of his family members are said to be questioned in this regard.
The CBI booked the case against the former TDP MP’s company for allegedly defaulting loans. His construction firm Trans Troy India Limited had taken loans amounting to Rs 300 crore that later turned into NPAs due to non-repayment.
Based on a complaint, the CBI booked the case against the company and others.