Summary:
HYDERABAD: Panchayati Raj minister Jupally Krishna Rao on Wednesday denied allegations he and his family cheated banks and said he has not received any notice from CBI with regard to submission of fake documents for availing loans. In what way am I connected to the loan,” Jupally said.Responding to the charges, the minister said his son Arun Jupally had floated an infrastructure company few years ago and had taken loan. I had taken ?6 crore loan from Prudential Cooperative Bank in 1999 and paid ?14 crore to the bank in 2007 and got the no dues certificate from them. SBI is currently in the process of auctioning the properties that the Jupally family had pledged with it as collateral security. Including interest, the loan amount as of December last year stood at nearly ?86 crore..