The Enforcement Directorate on Wednesday issued summons to TRS Khammam Lok Sabha member Nama Nageshwar Rao.
Nama was directed to appear before ED for questioning on June 25.
It may be recalled that the ED on June 11 raided offices and residences of Nama Nageshwar Rao in connection with Rs 1,064 crore bank fraud case.
Raids were conducted simultaneously at six locations on residences and offices of Nama in Hyderabad and Khammam. The ED reportedly found huge unaccounted cash during raids and seized. It also seized crucial files and documents.
The CBI had booked case in 2019 and filed charge sheet in 2020 Ranchi Expressway Ltd and its directors.
Nama Prithvi Teja is the director of Ranchi Expressway. The firms belonging to Nama Nageshwar Rao obtained Rs 1,064 loans from banks but diverted the money for other purposes. The loans were obtained to lay four-lane road of 163-km stretch between Ranchi and Jamshedpur.
The NHAI awarded the contract to Ranchi Expressway Ltd owned by Nama’s Madhucon Project Ltd but Nama’s firms failed to take up works and even defaulted on repayment of loans. With this, banks declared loans as NPA and filed cases against Nama’s firms.
Nama Nageshwar Rao is the personal guarantor for the loans.
