ED and IT sleuths have conducted raids on the residence and offices of TDP MP and former Union Minister Y Sujana Chowdary in Hyderabad. IT is reported that three prominent banks have made formal complaints against him for not paying the loans. The amount borrowed by Chowdary is to the tune of Rs 5400 crores according to the unconfirmed reports. There are allegations against him for money laundering and financial irregularities.
He is named as Sujana Chowdhary and he owns Sujana group of Industries. The IT and ED sleuths from Chennai raided on the offices of Sujana group since last night and searches continued on Saturday also. The officials have seized some documents from offices of Chowdary in Nagarjuna hills it is learnt. The ED sleuths have seized more than 100 rubber stamps, that the Sujana group has been using. Chowdary is yet to comment or clarify over the raids and financial irregularities.
