The CBI sleuths conducted raids on the residences and offices of Sambasiva Rao in Hyderabad, Guntur, and Bengaluru and also on the premises of the Transstroy Managing Director Sridhar Cherukuri and others. This is in connection with Transstroy company, a Russian based company in which Rayapati Sambasiva Rao has stakes.
Sambasiva Rao’s construction firm Transstroy India Limited says to have defaulted Rs 300 crore loans to the banks. The searches were simultaneously conducted in Hyderabad, Vishakapatnam, Guntur and several other places in Telugu States and in New Delhi.
Earlier, the banks, which had given loan, had conducted forensic audit into the accounts of Transstroy India that revealed that the company directors have resorted to huge fraud.
Now, the new is coming out that Rayapati goes clueless with these surprise raids and he is desperate for help. If the sources are to be believed, he seeks from the Member of Parliament from Bharatiya Janatha Party, Sujana Chowdary in this issue.
Samba Siva Rao who is a good friend to Sujana, who has good ties with centre hopes that he can do something in this issue. The available news from the sources is, Rayapati thinks that this ride is very much conspired by the men in Power and thus he conveys the same to Sujana Chowdary for desperate help.
Can Sujana Chowdary pull Rayapati out of the abyss?