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TDP suspends MLC Vakati Narayana Reddy

Press Trust of India  |  Amaravati 

The Telugu Desam (TDP) has suspended MLC Vakati Reddy from the party following a cheating and loan default case registered against him and his firm by the

Reddy, a former MLC, was elected to the AP Legislative Council for a second term in March as the candidate from Nellore Local Authorities constituency.

"As the has registered a case against him, I have decided to suspend him from the party till such time he comes out clean," president and Chief Minister told reporters here this evening.

"It is not good for the party and so he is suspended with immediate effect," he added.

had conducted searches at the MLC's house in Nellore town and also at his office VNR Infrastructures in and

The agency has registered a case against him and his firm for obtaining a loan of Rs 190 crore from using "fabricated" documents and later defaulting on repayment.

The loan, along with interest, has now touched Rs 205 crore, sources in the CBI said.

The MLC had obtained a loan of Rs 190 crore in 2014-15.

Reddy had taken oath for the second term on May 1.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, May 13 2017. 20:22 IST