CBI Raids At S.P.Y Reddy's Residence Shocks Jana Sena

[vatsayana]

https://www.gulte.com/news/75292/CBI-Raids-At-S-P-Y-Reddys-Residence-Shocks-Jana-Sena

In a surprising development, the residence of Nandyal MP candidate from Jana Sena Party, S.P.Y Reddy has been raided by the CBI. Following this raid on the Jana Sena MP candidate, political leaders in AP are whispering ear-to-ear on why the raid took place at the former TDP MP's residence.

Apparently, the raids continued till late night while the documents pertaining to the industries and businesses owned by S.P.Y Reddy's family were taken in possession. According to sources, the raids came following the MP-run business' default on loans taken from banks. He had availed loans upto Rs. 500 crore from SBI and Syndicate Bank and had allegedly defaulted. 

Their family-run businesses Nandi group of industries had defaulted on the loans. During the raids, S.P.Y. Reddy was undergoing treatment for his ailment at Care Hospital in Hyderabad. He has been in the hospital for quite sometime now. However, going by the way the raids were conducted, there is speculation that Jana Sena could be inching towards TDP, if the yellow party wins and hence, the Centre is sounding an alarm bell on all those who are planning to get close to the TDP, said a source.

Meanwhile, Jana Sena Party Chief Pawan Kalyan has still not responded on the raids.