Sat, Jan 16, 2016, 09:10 AM
Andhra Bank served a notice to TDP MP Rayapati Sambasiva Rao for defaulting in payment of Rs 434 crore bank loan. In the notice, bank officials said that his properties would be auctioned if Rayapati fails to repay bank loan in two months. Rayapatis Transstroy company has taken loans to the tune of Rs 1500 crore from various financial institutions. Now, the firm is not in a position to excute minor projects. Recently, the TDP government handed over Polavaram project construction works to some other firm in the place of Transstroy.