Telangana BJP leaders Rani Rudrama and Jitta Balakrishna Reddy got a big shock. Reliance has auctioned the properties of Telangana BJP leaders Rani Rudrama and Jitta Balakrishna Reddy related to the Rs 18 crore debt evasion case.
A press release was also made to this effect. Jitta Balakrishna Reddy and Rani Rudrama joined the BJP after incurring huge debts in banks and facing financial losses. Recently, Jitta Balakrishna Reddy and Rani Rudrama have donned the BJP scarf.
These two worked together and took a huge loan of more than Rs 18 crores from Reliance. Due to the non-repayment of debt, Reliance has issued a notice to auction the assets. While the loan was taken from Lakshmi Vilas Bank, Reliance Asset Reconstruction Company was bidding. More details are yet to be known.
Getting into the details, Rani Rudrama, who was known as a journalist, later entered politics. Yuva Telangana Party was established. Later merged with BJP. But before joining the BJP, both Rani Rudrama and Jitta Balakrishna Reddy took a loan of over Rs 18 crore from Lakshmi Vilas Bank. But as the debt was not paid, the bank officials stepped in to auction their properties. Sadaru Bank handed over the asset forfeiture case to Reliance Asset Reconstruction Company as there was no result despite giving notices a couple of times. With this, the Reliance company has given an announcement by auctioning the properties of Rani Rudrama and Jitta. Rani and Jitta didn’t react at all despite all the chaos going on. At least there was no response on social media. There are reports that even after approaching the courts on this loan matter, there has been a setback.