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ED conducted seraches in the offices and houses of TDP MP Sujana Chowdary in Hyderabad
Enforcement Directorate ED Officials were conducting search operations in the offices and houses of TDP MP Sujana Chowdary in Hyderabad Three teams from Chennai reached Hyderabad on Friday and were doing seraches
Enforcement Directorate(ED) Officials were conducting search operations in the offices and houses of TDP MP Sujana Chowdary in Hyderabad. Three teams from Chennai reached Hyderabad on Friday and were doing seraches.
The ED officials raided two companies at Nagarjuna Hills in Punjagutta. They were doing seraches in Splendid Metal Products Limited, Sujana Universal Industries Company. They were also doing searches in his house at JubileeHills.
According to ED officials several key documents, hard disks were seized during the searches.
Sujana Chowdary was facing allegations against him that he has taken Rs 304 crore loan from three banks and not paid to the banks. He has taken Rs 124 crore from Central Bank, Rs 120 crore from Corporation Bank and Rs 60 crore from Andhra Bank, which he had not paid to the bank.
Allegations made against him that he has transferred the bank loans to the shell companies without transparency and misused and diverted them to get benefit and defaulted the loans.He transferred crores of rupees into the shell companies only on receipts.
In 2016, 2017 and in 2018 CBI registered 3 FIR's against him. ED entered when he faced allegations that he had transferred foreign investments into his shell companies by projecting his company employees as Directors of that companies .
