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CBI files charge sheet against rebel YSRCP MP in loan fraud case
The Hindu
K. Raghu Rama Krishna Raju, 15 others charged with causing loss of ₹947.71 cr. to consortium of lenders
The Central Bureau of Investigation has filed a charge sheet against rebel YSRCP MP and then chairman/managing director of Ind-Barath Power Madras Limited, K. Raghu Rama Krishna Raju, and 15 others for allegedly causing a loss of ₹947.71 crore to a consortium of lenders.
Among those arraigned are Ind-Barath Power Madras Limited, Mr. Raju and then director Madhusudhana Reddy. The company’s eight sister entities have also been named; apart from Sokeo Power Private Limited, its managing director, Y. Nagarjuna Rao; and two chartered accountants, M. Sreenivasulu Reddy and Pravin Kumar Jabad.
In April 2019, on the Central government’s order, the CBI had taken over the probe into a case registered with the Economic Offences Wing of the Delhi Police in October 2018, against five accused persons, including a Hyderabad-based company and its directors.
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