Nama denies wrongdoing, says will cooperate with ED

TRS floor leader in the Lok Sabha Nama Nageswara Rao, who is summoned by the Enforcement Directorate in a case related to bank fraud of ₹1,046 crore, has denied wrongdoing and said he would assist the

TRS floor leader in the Lok Sabha Nama Nageswara Rao, who is summoned by the Enforcement Directorate in a case related to bank fraud of ₹1,046 crore, has denied wrongdoing and said he would assist the investigative authorities. At a press conference here, he said the National Highways Authority of India (NHAI) had delayed the permissions and did not get the environment clearances before handing over the project to Madhucon for laying the 163-km National Highway-33 between Ranchi-Rargaon-Jamshedpur in Jharkhand. Moreover, the NHAI got approvals for 21% of land transfer though it should have given 80% at least to the company for starting the work. The company was also forced to take up the work despite not fulfilling the criterion for smooth operations. He said the NHAI resorted to breach of the contract and illegally terminated it putting the Madhucon company into financial losses.