Home Political News Ganta Srinivas Rao Properties in Auction Including His Flat

Ganta Srinivas Rao Properties in Auction Including His Flat

Ganta Srinivas Rao Properties

Former minister Ganta Srinivasarao has got a huge shock. A bank has issued auction on this Uttar Andhra senior leader’s assets. Actually Ganta Srinivas Rao has Pratyusha Resources and Infra Private Ltd. company. This company has borrowed a loan from the Indian bank.

According to the reports, They had taken 150 crores loan for this company. After that, they hadn’t paid their amount and now the debt increased to 220 crores with interest.  The Indian bank, which has already seized the assets, is preparing to auction them off to get the money bank.

Indian Bank has announced that the auction process starts on April 16, 2020. These properties include Ganta Srinivas Rao Vizag flat. The Indian banking sector is also preparing for the auction of assets of this company’s directors. This company has 7 directors and their assets will come into the auction. The bank has invited applications from 11th to 15th of this month for auction.

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