ED conducts searches on former MP Rayapati Sambasiva Rao’s house in Guntur, Hyderabad
The Hindu
The Enforcement Directorate sleuths are conducting raids on the offices of Transstroy India Ltd. and houses its owner, former MP and TDP senior leader Rayapati Sambasiva Rao, in Guntur and Hyderabad on Tuesday. There are loan default allegations against the TIL, which was the contractor of Polavaram Irrigation Project in Andhra Pradesh.
The Enforcement Directorate (ED) sleuths are conducting raids on the offices of Transstroy India Ltd. (TIL) and houses its owner, former MP and TDP senior leader Rayapati Sambasiva Rao, in Guntur and Hyderabad on Tuesday. There are loan default allegations against the TIL, which was the contractor of Polavaram Irrigation Project in Andhra Pradesh.
There are allegations on the company that it indulged in loan fraud and money laundering. These raids are a part of the ongoing investigation into the alleged diversion of the money from the TIL to other companies, according to sources.
he Tamil Nadu Government will take appropriate decision to protect the welfare and livelihood of Manjolai tea estate workers as Bombay Burmah Trading Corporation, which is managing the tea gardens for the past 90-odd years, is about to wind up its operations in near future, Speaker M. Appavu has said.