According to latest reports, Andhra Pradesh Minister Ganta Srinivasa Rao’s Properties has been attached by Indian Bank for Loan Default taken from the bank by a company for which Ganta was a former director.
Vishakapatnam-based company M/s Pratyusha Resources and Intra Pvt Limited has taken around 141 crores loan from Indian Bank of the Dabagardens branch in Visakhapatnam. The bank has sent notices to the company for several times to clear the loan. But the company gave a deaf ear and the Bank has announced attachment of the properties of the company and its guarantors.
Minister Ganta used to be director of the company, he even stood as guarantor for the loans taken by the company. 26 properties including five properties belonging to Ganta and three properties of Paruchuri Bhaskara Rao, director of Pratyusha, were attached .
Attached Ganta Srinivas Rao properties include the following properties
Residential House in MVP Colony
Building in 1355 sq yards land in Chodavaram
67.66 cents land in Anakapalli
1440 sq yards of Land in Kurmannapalem- Survey no 113/20,21,22
A Plot in Balayya Sastry Layout – Survey no 20 in Visakhapatnam.