(Image source from: Timesofindia.indiatimes.com)
Ganta Srinivas Rao's Assets to be Auctioned on April 16th:- Ex-Minister and TDP leader Ganta Srinivas Rao is facing allegations of bank fraud as he owes crores of money to Indian Bank. Despite of several notices, Ganta Srinivas Rao did not respond after which Indian Bank decided to auction his assets. Now they issued orders to auction his properties on March 16th after he failed to repay the debts of Rs 142 crores for Indian Bank. Ganta Srinivas Rao's firm Prathyusha Company borrowed a loan amount of Rs 141.68 crores.
The debts now reached Rs 221 crores including the interests and Indian Bank seized the properties of Ganta Srinivas Rao recently. Ganta Srinivas Rao faced allegations that he acquired loans on government lands and he was badly criticized. Ganta Srinivas Rao remained unavailable to make a comment on this. A lavish flat and plot of Ganta Srinivas Rao will be auctioned on April 16th which are located in Northern constituency. The full details will be announced soon.
(Video Source: AP24x7)