ED summons TRS MP in bank fraud case!

The Enforcement Directorate (ED) on Monday served notices on Telangana Rashtra Samithi MP Nama Nageswara Rao to appear before the agency for questioning in connection with the Rs 1,064 bank fraud case.

The ED authorities asked Nama to personally appear before them on June 25 along with his lawyers and relevant documents. 

The summons were issued in the wake of the recent raids conducted on his house on the allegations of siphoning of bank loans.

Last week, the ED authorities conducted searches at Nama’s residences and offices in Hyderabad and also on the offices of the directors of Ranchi Expressway Limited, an associate of his own firm Madhucon Group of Companies.

In all, raids were conducted at six places. Apart from computers, hard disks and other documents, the ED authorities also seized unaccounted money running into lakhs of rupees.

In March 2019, the Central Bureau of Investigation (CBI) had registered a case against Ranchi Expressway Limited, Madhucon Group of Companies and officials of Consortium of Banks led by Canara Bank for alleged irregularities in the Ranchi-Jamshedpur (NH-33) project.

Earlier, the High Court, taking suo motu cognisance, had ordered Serious Fraud Investigation Office (SFIO) to conduct a probe into the delay of completion of the said project which commenced in December 2012.

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