Jagan met PNB chairman the day CBI registered case against me: RRR

YSRCP rebel Lok Sabha MP Raghurama Krishnam Raju on Friday stated that Chief Minister Y S Jagan Mohan Reddy met Prime Minister Narendra Modi on October 6, the same day when the CBI has registered a case against him with the regards to the bank loan he had raised from a consortium of banks.

The MP from Narsapuram also said Jagan Mohan Reddy met Punjab National Bank chairman Mallikarjuna Rao after meeting the PM. Raju on Friday raised doubts that Jagan could have influenced the PNB chairman to press a case against him.

Raju clarified that he had availed loans to the tune of Rs 4,000 crore. Of this, Raju claimed that he has not even withdrawn or used Rs 2,000 crore which are still in the account.

Without referring to anyone in particular, Raju said, “People who are facing corruption charges to the tune of Rs 43,000 crore are levelling corruption charges against me. My lawyers have advised me to file a defamation suit against the media which has been writing baseless allegations,” Raju said.

Further, Raju said he is not filing the defamation suit against some people who will very soon be going to jail. “They will be sent to prison in three to four months,” probably hinting at Jagan Mohan Reddy.

The CBI on Thursday searched the residences and offices of Raghurama Krishnam Raju for alleged loan default of over Rs Rs 826 crore. The CBI has filed a case against Raju and 10 others in the loan case. The case has been registered based on a complaint from Punjab National Bank, against Raju and 10 others for allegedly causing a loss of approximately Rs 826 crore to Punjab National Bank and other consortium banks. In the complaint, it was alleged that the accused had cheated the bank by siphoning off bank funds. Searches were being conducted at 11 locations, including at Hyderabad, Mumbai and West Godavari at the office and residential premises of the borrower company and other accused persons.

Raju had been vocal in criticising the policies of the YSRCP government. The MP had opposed the government’s plans to introduce English medium education in the government schools. He criticised the TTD’s move to sell Srivari assets and alleged diversion of sand for sale in the black market. The YSRCP government had issued a show-cause notice and also moved a disqualification petition against Raju. He also filed a complaint with the Election Commission of India that the party was wrongly using the party’s name as YSRCP in its letterheads when it was actually registered as Yuvajana Sramika Rythu Congress Party.