Bank notices to Rayapati, Sujana

By Nehru.T Feb. 21, 2020, 11:36 am IST
Bank notices to Rayapati, Sujana

Assets to be auctioned on 23 March

It seems that though Sujana Chowdary, who is well known to the society as bank defaulter and Rayapati Sambasiva Rao are forced by the banks to pay the loan amount in right time or face the consequences. Sujana Chowdary is popular for his white-collar financial fraud cases and defaulter with various banks worth of Rs.6,000 crores elected for Rajya Sabha from Telugu Desam and later joined BJP immediately after Chandrababu Naidu losing power in 2019 elections. Rayapati Samba Sivaro, a senior MP from both Congress and Telugu Desam also facing various financial fraud cases and well known for is irregular financial transactions and bankrupt allegations. He also has taken huge loans and didn’t pay back and so far the banks could not reach the both as they were in ruling party. Now the banks are slapping them with auction notices.

Andhra Bank has issued notices and published auction notice in various papers and stated that the bank is going to sell the property of Rayapati Sambasivarao for not paying the loans. Rayapati has to pay the loan amount including the interest is Rs.837.37 crores and the bank stated it would auction the properties of the former MP at Guntur town and at New Delhi. The auction would be conducted on 23 March . On the other side Bank of Baroda issued an auction notice to Sujana Chowdary, Member of Rajya Sabha who is in BJP now. The bank claimed that he has defaulted the loans intentionally. Sujana has taken the loan of Rs.322 crores from the bank and now the principle amount and interest has reached to Rs.400 crores but he didn’t pay not even a single rupee so far. Finally the bank has decided to conduct auction of some of the properties of Sujaan Chowdary on 23 March . Two bigwigs of AP politics, the both are close associates of Chandrababu Naidu are in a position to face the auction to protect the assets or they have to pay the loans in right time.

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