Monday, February 22, 2016
The CBI has booked a case against Srinivas Kalyan Rao, son of former CBI Director K.Vijaya Rama Rao on the charges of duping the banks to a tune of Rs.304 crore.
Sources said that Srinivas has taken a loan of Rs.304 crore from various banks for setting up of a business in Chennai a few years ago. The CBI’s action came following a complaint by banks. Meanwhile, Annapurna, daughter of Vijayarama Rao speaking to media said that his brother was booked as he worked in Sujana Chowdary’s companies. She added that her father had even cautioned him of the current situation from time to time but ultimately, his brother Srinivas was made a scapegoat. She said that he was booked in the case as part of conspiracy. She said that her brother would come before the media within two to three days.