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Family Suspect Political Vendetta Behind Case Against Kalyan Rao

Published: 23rd February 2016 06:34 AM  |   Last Updated: 23rd February 2016 06:53 AM   |  A+A-

HYDERABAD: Without directly naming Union Minister of State for Science and Technology Y Sujana Chowdary, family members of K Srinivas Kalyan Rao, against whom the CBI had registered cases for an alleged bank loan fraud of Rs 304 crore, said that they were worried that Kalyan Rao would be made a scapegoat.

The agency has registered cases against Kalyan Rao, son of former CBI director K Vijaya Rama Rao, and others for allegedly defrauding three banks, namely Central Bank of India, Andhra Bank, and Corporation Bank.  Apparently, Kalyan Rao had earlier worked with Sujana Group as a salaried employee.

Speaking to the media, Kalyan Rao’s sister, Annapurna said they did not have a good opinion about the Sujana group, and they did not like him working there. “We were afraid for him that he might be made a scapegoat in the financial frauds. He used to say I am only working for him. We don’t know how he got involved in all this.,” Annapurna added.

CBI teams earlier conducted raids at Kalyan Rao’s flat in Banjara hills and at Best and Crompton Engineering Projects Limited in Chennai, where he is the managing director.  Annapurna believed that her brother was being framed as they changed their political inclinations. She and her father were earlier part of the TDP, but in the month of December, they joined the TRS.

“Politically scenario has changed. We used to be in TDP earlier. Right now we are with the TRS. We might have some unknown enemies, I am not discounting that,” Annapurna said.   She added that they did not know about the Best and Crompton firm, and that Kalyan Rao had sold away a personal property as he faced financial crisis.

Sujana Laughs Away Summons

Making light of the summons issued by a metropolitan court at Nampally in Hyderabad to him a few days ago in connection with  non-repayment of a loan to Mauritius Commercial Bank by Sujana Universal Industries, Union Minister of State for Science and Technology Y Satyanarayana Chowdary alias Sujana Chowdary said, “I have not received summons from any court. Getting notices or summons is not an issue. Even, Prime Minister can get summons.” Speaking to reporters in New Delhi on Monday, the minister said he had nothing to do with the loan taken by the Sujana Universal Industries as he had never signed any document relating to it.

He further said he is not a director of the Sujana group of industries. He added that he is only a non-executive director of the board. In fact, Mauritius Commercial Bank in its petition had alleged that Chowdary and others had taken huge amount of money as loan in a false and deceitful manner. A few days ago, summons was served on all the accused persons to appear before the court on March 5. Apart from Chowdary, non-executive director of Sujana Universal Industries, the other accused were managing director Srinivas Raju and others.

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