AP CID conducts raids on 9 houses in Hyderabad

The Andhra Pradesh CID on Tuesday started raids in nine places in Hyderabad following diversion of funds from Ghatkesar and Mehdipatnam branches of State Bank of Hyderabad. The funds of Rs. 30 crore of the AP Housing Board were diverted from these two branches. In all, the CID police are stated to have raided nine places in Hyderabad on Tuesday. The raids are being conducted in the premises of the key accused Damodar Murugan and nine others. This is perhaps the first time that AP CID is conducting raids in Hyderabad after the split of the combined State. The Telangana CID, however, went hammer and tongs following the notes-for-vote case involving nominated MLA Stephenson. State Bank of Hyderabad has come into news recently over the embezzlement of NRI funds. It is not known whether the same gang is involved in the AP Housing Board case also.