Book BJP floor leader Satyanarayana Raju’s brother, police told

The court was hearing a petition filed by Kantheti Satyanarayana Raju, alleging that both of them were involved in illegal finance business. The court ordered the police to register the case under Sections 420, 406, 120 (b) and Section 5 of the Andhra Pradesh Protection of Depositors & Financial Establishments Act, 1999 and Section 3, 4 & 5 of Prize Chits and Money Circulation schemes (Banning) Act, 1978.

Mr Kanteti Satyanarayana in his complaint alleged that, his brother K.S.N. Raju and his son K. Satyanarayana, are involved in illegal finance business under the name Nagasuri Finance & Chit Funds.

They had allegedly been borrowing money from politicians and businessmen and lending the same to needy people at very high interest rates. Due to this illegal business, the said persons are trying to evade paying tax to the government.

He also alleged that, his brother and his son have borrowed Rs 50 lakh from him in 2012. They promised to return the same in 2014, but failed to honour the promise. Now they are delaying the payment and threatening him with dire consequences.