TDP senior leader and ex-MP Rayapati Sambasiva Rao’s residence in Guntur is being raided by the CBI. On Friday morning, the CBI reached Rayapati’s residence at around 8 AM and carried out these raids. Also we hear that other properties owned by Rayapati are also being searched.
According to the media reports, the CBI officials are scrutinizing the documents related to the Transstroy company which is owned by Rayapati. The CBI has information that Rayapati has received Rs 300 crore from several banks in the form of loans. The repayment to the banks is yet to be done and the CBI is digging more details in this information.
However, this is not first time such raids happened at Rayapati. Earlier CBI has filed a case against Rayapati and held raids multiple times on alleged bank fraud. Also Transstroy company had previously done the construction works of Polavaram dam and later it was terminated from the contract over not meeting the deadlines.
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