ED Summons TRS MP Nama Nageswara Rao

ED issued summons to TRS MP Nama Nageswara Rao on Wednesday for questioning on June 25th in connection with Rs. 1,064 crore bank fraud. ED is probing the case for money laundering under the Prevention of Money Laundering Act. ED also issued summons to those involved in the case.

The Enforcement Directorate (ED) on Friday conducted searches at the Hyderabad residences and offices of Telangana Rashtra Samithi (TRS) MP Nama Nageswara Rao and the directors of Ranchi Expressway Limited.

In March 2019, the Central Bureau of Investigation (CBI) had registered a case against Ranchi Expressway Limited, Madhucon Group of Companies and officials of Consortium of Banks led by Canara Bank for alleged irregularities in the Ranchi-Jamshedpur (NH-33) project which was awarded by the NHIA to Madhucon Project Ltd in 2011.