Sujana Chowdary And Rayapati Facing The Heat From The Banks:- TDP senior leader and ex-MP Rayapati Sambasiva Rao along with BJP MP Y Sujana Chowdary got a jolt from the Indian banks after they failed to repay the dues. Bank of India issued a public notice for e-auction of the properties owned by Y Sujana Chowdary after he failed to repay a loan amount of Rs 400.84 crores. Andhra Bank came out with a similar notice to Rayapati Sambasiva Rao who owes Rs 873.37 crores to the bank from Transstroy India Limited. The auctions will be conducted on March 23rd informed the banks.
Sujana Chowdary has been facing several such allegations and he has been drilled by the Enforcement Directorate (ED) officials and the fraud is expected to be Rs 6000 crores through his shell companies. Sujana Universal Industries borrowed Rs 322 crores from Bank of India and with interests, it reached Rs 400.84 crores. All the properties for auction are located in Sriperumbudur, Tamil Nadu. In November 2018, ED attached assets worth Rs 315 crores of Sujana Chowdary. Rayapati is facing allegations of diverting Rs 3800 crores and several cases are pending.