Bankers' stir at Kavuri office in Hyderabad

Bankers demanding over Rs.1,000 crore arrears from Kavuri Sambasiva Rao's firm on Monday demonstrated at his office in Hyderabad. The former Congress MP has now joined the ruling BJP at the Centre. Kavuri's Progressive Constructions has run into heavy arrears. Bank notices were allegedly ignored by the construction company. The company had stopped repayments quite some time ago. The bank officials reportedly appealed to the veteran leader to repay the loans and prevent the banks from bankruptcy. Sources say Kavuri was shocked by the sudden demonstration. But such bankers' demonstrations have been going on to get back arrears.