Jupally sons role in bank fraud dents TRS image

​Hyderabad: After Panchayat Raj Minister Jupally Krishna Rao found himself in the centre of a jam after the CBI took up investigation of his two sons' involvement in a bank fraud, a disturbing silence has settled over the Telangana Rashtra Samiti (TRS).

Though no one is ready to offer any comment on the record, they admit in private talk that after the fraud came to light, the party's image has taken a beating.

Chief Minister K Chandrasekhar Rao, who was ill at ease after the scam broke out, reportedly sought an explanation from the minister who is understood to have told him that he had no role in it. He also is reported to have argued that his sons had only defaulted in repayment of loan and that they would repay the entire loan in due course of time.

The two sons of Krishna Rao had allegedly defaulted repaying of a loan of Rs 86 crore they had raised
from SBI after allegedly inflating the value of immovable properties they had mortgaged.

While a few leaders said that the news had dented the image of the party, others smelt a conspiracy by the opposition parties. Sources said that Chief Minister K Chandrashekar Rao was unhappy with the turn of events at a time when the party is readying for elections next year.

A senior leader, who wished not to be named, said that the recent events would not affect the party since there were no allegations of corruption against the minister per se.

The leader further said that when the opposition parties described Krishna Rao as Telangana Nirav Modi, people would generally get doubts.

The minister should have responded immediately without waiting and should have made everything clear, opined the TRS leader. However, another leader said that there was no truth in the allegations levelled by the opposition leaders.

Party MLA A Venkateshwar Reddy said that the opposition leaders in the district (Mahbubnagar) were jealous of the popularity of the minister and hence were targeting him personally. Meanwhile, Krishna Rao said that he had nothing to do with the loans his sons had raised.

He said that his sons were majors and were not dependent on him. He said that there was nothing wrong in taking loan and running a business. Regarding the notice issued by the CBI, Krishna Rao said that it was a fake notice and suspected that it was created by the Opposition parties.

Rao clarified that Jupally Arun had taken loans and had repaid Rs 31.33 crore to the bank and he has not run away. Regarding allegations of against the real estate firm of Jupally Varun, the minister said that his son was no more a director with the company but still is guarantor for the building which had been mortgaged.