ED Raids TRS MP N Nageswara Rao's Residence, Offices In Bank Fraud Probe
A team of central investigating agency Enforcement Directorate (ED) went to Hyderabad on Friday morning to conduct searches at the residence and offices of Telangana Rashtra Samithi (TRS) MP Nama Nageswara Rao and Ranchi Express Way Limited directors in connection with a Rs 1, 064 crore bank fraud. According to sources in the ED headquarters, the raids started at 7 am at six locations that included residences of the Khammam MP and his son Prithvi Teja, Madhucon Infra office in Jubilee Hills, residences of CMD of Ranchi Expressway K Srinivasa Rao and director N Seetiah, along with their offices.
The Central Bureau of Investigation (CBI) had first registered the FIR in the case in 2019 against Madhucon Project, Madhucon Infra, Madhucon Tolly Highway, and auditors and officials of a consortium of banks. A chargesheet was filed against Ranchi Expressway Limited and its directors in 2020 after which the case was investigated.