Days after the Enforcement Directorate held raids at TRS Khammam MP Nama Nageswara Rao’s residence, on Wednesday the ED has served notices to the ruling party Parliamentarian. In the summons it was stated that ED wants to question Nama over the bank loan funds getting diverted.
On June 11th, ED held raids at Nama’s residences at Khammam and Hyderabad. Around six teams took part in the search operations held for nearly 13 hours. In the year 2011, Nama’s Madhucon company bagged the contract of Ranchi Jamshedpur highway. For the same Madhucon company borrowed an amount of Rs 1100 crore from banks as loan. About Rs 264 crore were allegedly diverted from the loan amount.
Based on this in 2019, the CBI filed a case against Madhucon company and in 2020, the CBI lodged a chargesheet. Now the Enforcement Directorate has stepped into this whole row and accordingly raids were held on last Friday.
The ED has asked Nama to appear before it on June 25th. But till date, Nama has come before the media and responded on the whole issue.
This post was last modified on 16 June 2021 2:48 pm
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