According to the provisions of the Prevention of Money Laundering Act 2022, the Enforcement Directorate (ED) has provisionally attached 28 movable properties and other assets worth Rs 80.65 crore that belong to Telangana Rashtra Samithi (TRS) Nama Nageshwar Rao and his family. This is because the case involves Ranchi Expressway and Madhucon Projects Limited and its director and promoters. The promoter and director of the Madhucon group of firms, Nageshwar Rao, also reportedly served as a personal guarantor for the bank loan that the business failed on. The ED inquiry found that the promoters of the Madhucon Group misappropriated the loan funds.
