In a major relief to Undi MLA K. Raghu Ramakrishna Raju, the Telangana High Court issued interim orders staying the proceedings of SBI probe into the ‘fraud bank account’ relating to Ind Bharat Power Limited Company belonging to him. The court also issued orders to stall the proceedings against the company director Sitaramam too.
The SBI declared that the bank account is fraudulent. The High Court which investigated into the case recently asked the SBI to stay its proceedings in the interim orders.
Trouble began brewing for RRR after being elected as the Narsapuram MP in 2019 on a YCP ticket. After some time, RRR developed differences with his party boss and since then, he kept slamming the YCP boss and other party leaders too.
Bearing grudge over the criticism, Jagan’s government targeted RRR’s businesses. Ind Bharat Power is among those targeted by the YCP government.
It is worth noting that in this case, the court issued notices to the RBI and SBI as defendants.
The case has been adjourned to August 28.
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