AP election gives a shock by banks!!!?
Raghu Ramakrishnan Raju and Ganta Srinivasa Rao, who are running as telugu Desam mla candidates from Bhimili assembly seats, were shocked by the banks before the elections. raghu Ramakrishnan Raju, who is a candidate of the tdp party, took loans of about 1383 crores from punjab National bank and its affiliated banks in the name of Ind. Bharat Dharmal Power Limited, out of which 826.17 crores were diverted to other accounts instead of being used for the needs of the company.
The National Company Law Tribunal hyderabad department issued a press release auctioning assets worth 361.96 crores after banks filed bankruptcy petitions. Ganta Srinivasa Rao, who is the former minister of Bhimili and the tdp mla candidate, also took huge loans from banks. Banks have been fighting hard for five years to seize his assets after he took loans of around 400.37 crores from government banks and did not repay them.
The pratyusha group of companies of the hour have taken this loan and have not paid even a single rupee so far. With this, indian bank entered the field of asset acquisition. The City of visakha has put up for auction a commercial building located at survey No. 13, Gangula Vari Street. Auction will be held on 7th june from 12 noon to 3 pm. The bank fixed the reserve price of this building at 2.84 crores. Two days before the elections, there is a possibility that this will have a huge impact on their chances of winning as such an announcement has come from the banks.