CBI raids on Janasena MP candidate S.P.Y Reddy!

Surprisingly, the defection specialist, the candidate for the Member of Parliament for Janasena from Nandyal, S.P.Y Reddy’s residence was raided by Central Bureau of Investigation. Apparently, the raids continued till late night while the documents pertaining to the industries and businesses owned by S.P.Y Reddy's family were taken in possession.

According to sources, the raids came following the MP-run business' default on loans taken from banks. He had availed loans up to Rs. 500 crore from SBI and Syndicate Bank and had allegedly defaulted. During the raids, S.P.Y. Reddy was undergoing treatment for his ailment at Care Hospital in Hyderabad. He has been in the hospital for quite some time now.

However, going by the way the raids were conducted, there is speculation that Jana Sena could be inching towards TDP, if the yellow party wins and hence, the Centre is sounding an alarm bell on all those who are planning to get close to the TDP, said a source.