Hyderabad, Dec 31 (SocialNews.XYZ) The Central Bureau of Investigation (CBI) on Tuesday carried out searches at the premises of former MP and Telugu Desam Party leader Rayapati Sambasiva Rao.
The CBI sleuths from Visakhapatnam conducted searches at the residences and offices of Rao at Guntur, Vijayawada and Hyderabad in connection with investigations into a complaint against Transstroy (India) Limited, in which the TDP leader has stakes.
Searches were also conducted at the premises of top officials of Transstroy in Andhra Pradesh, Telangana and other states.
Indian Bank had reportedly moved the CBI against the construction company for defaulting in repayment of Rs 500 crore loan.
The company was awarded contract for Polavaram project in Andhra Pradesh by the then TDP government. A part of the project was later given to another company as Transstroy was unable to execute the works.
Source: IANS
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