NOB- Hyderabad news: ED raids have been going on in many places in Hyderabad since 01.08.2023. It seems that the houses of the owners of many companies and organizations are being searched. ED found that some companies have evaded taking loans from banks. As a result, inspections are being carried out in those companies.

ED raids in Hyderabad are currently creating a stir. ED officials are conducting inspections in many parts of the city since 01.08.2023. 15 teams have entered the field and are simultaneously conducting searches in the houses of various companies and owners. In Panjagutta, Manikonda and Jubilee Hills, many houses and institutions are being checked simultaneously.

ED raids are going on in the houses and institutions of businessman Malineni Sambasivarao. It seems that he is the director of Trans Tri Roads, Techno Unit Infra Tech, Kakatiya Crystal Power Limited and Trans Tri Power Project companies. The ED found that the companies of which he was the director had taken large loans from banks and evaded repayment. It seems that ED is conducting raids as a part of it. Bank accounts and various documents related to the companies are being examined. It seems that the staff is being questioned on the allegations of defaulting on loans.

It seems that the houses and institutions of former MP Rayapati Sambasivarao of Narsaraopet are also being searched. Police raids are being conducted at his houses in Guntur. Rayapati Sambasiva Rao, who is suffering from various health problems, is staying at his house in Hyderabad. ED officials are questioning Rayapati’s son Ranga Rao. Rayapati companies have taken loans of rupees crores from various banks and have not paid them. Due to this, the ED has also registered a case against Rayapati Sambasivarao earlier. ED has found that money laundering has taken place in his companies.