ED Attaches Rs. 80.65 cr Worth Assets of TRS MP Nama Nageswara Rao

Hyderabad: The Enforcement Directorate (ED) on Monday have attached at least 28 immovable properties worth Rs 80.65 crore. 

The agency officials stated that they provisionally attached 28 immovable properties and other assets worth Rs 80.65 crore belonging to Nama Nageshwar Rao and his family members in an ongoing money laundering case against Ranchi Expressway Ltd, Madhucon Projects Limited and its director and promoters.

In 2019, the CBI registered cases following the court directions in connection with Ranchi Expressway, a project for four-laning of a 163-km stretch on National Highway-33 linking Ranchi to Jamshedpur. The National Highways Authority of India had allocated the project work to Madhucon Project Ltd on March 18, 2011 which belongs to Nama Nageswara Rao and his family members.

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