After raids, CBI sleuths files case' on former MP Rayapati Sambasiva Rao

CBI officials have filed a case against former MP and TDP leader Rayapati Sambasiva Rao. Since Tuesday morning, CBI officials have carried out simultaneous raids at Hyderabad, Guntur, Vijayawada and Bangalore residence and offices of Rayapati. Officials are conducting checks on the bank loan default case.

After the raids, Rayapati was booked under Sections 120 (B), Red With 420, 406, 468, 477 (A), PCI Act 13 (2) and Red With 13 (1) D. Along with the Rayapati TransTroy company MD Cherukuri Sridhar and Director Suryadevara Srinivas have been named as accused.

CBI officials have conducted searches at Trans Troy's offices on the complaint of Union Bank regional head Bhargav on loan default. Trans Troy sought the Polavaram contract during TDP regime and later the part of the project was given to Navayuga.