Former minister, and member of the Telugu Desam Party, Rayapati Sambasiva Rao, has been making headlines for the past few days, due to the magnanimous magnitude of the scam that he is involved in, via his company Transstroy India Private Limited.
The scam involves a huge amount of nearly Rs. 9,000 Crores, several Crores which are under the name of binamis and other fictional companies. Transstroy had been given the contract to build the POlavaram Project initially, but the contract fell through shortly after that.
Now, in the ongoing CBI investigation, certain strange evidences are being shown to the CBI officials, which are downright shocking to the officials, and are even comical to think of.
It has reportedly been said to the CBI officials, that iron rods were transported using TVS scooters, and that Rs. 1500 Crore worth raw material was kept at the Polavaram site. Given how ridiculous these facts sound, the CBI is said to be scratching its head, trying to contemplate its further steps.
A lot of the loan money that was taken is also said to have been transferred to personal bank accounts, which has now come to light. With the investigation still going on, it has to be seen what sort of action will be taken against all those involved in this scam.