CBI books YSRCP MP Ramakrishna Raju in loan default case

The CBI has booked YSRCP MP Ramakrishna Raju in connection with a case of alleged default of Rs 826-crore loan by Ind Barath Thermal Power Ltd in which he is a director, officials said on Thursday.

The CBI has booked YSRCP MP Ramakrishna Raju in connection with a case of alleged default of Rs 826-crore loan by Ind Barath Thermal Power Ltd in which he is a director, officials said on Thursday. The agency has registered the case against the MP and 10 others, and is carrying out searches at around 11 locations in Hyderabad, Mumbai and West Godavari district, they said.

The company is alleged to have defaulted on loan taken from a Punjab National Bank-led consortium. Raju represents Narsapuram constituency in Lok Sabha.