Setback for Araku MP’s Hubby
In a setback to turncoat MP from Araku Kothapalli Geetha, the Nampalli Court on Tuesday upheld the two year prison term handed out to her husband Paruchuri Ramakoteswara Rao in connection with evasion of bank loan repayment. by Erramanzil Court.
Rao secured a loan of Rs 25 crore from Punjab National Bank for his Visweswara Infrastructure in 2008. He gave a cheque for the amount, but the cheque bounced. Though the bank sent him several notices, Rao did not respond. Finally, the bank authorities lodged a complaint against him with the police. The Erramanzil court which heard the case, handed out a two year prison term and directed him to pay the loan amount. Challenging this, Rao approached the Nampally Court for relief. However, the court has upheld the lower court's verdict.
