CBI books YSR Congress' Rama Krishna Raju in Rs 947.71 cr loan fraud case

Raju is also a Member of Parliament in the 17th Lok Sabha from Narasapuram constituency, Andhra Pradesh

The Central Bureau of Investigation (CBI) has booked Ind-Barath Power Madras Ltd, its Chairman and Managing Director K Raghu Rama Krishna Raju, and Madhusudhana Reddy, a director at Ind-Barath Power (Madras) Ltd for an alleged loss of Rs 947.71 crores to a consortium of lenders. The disputed amount was raised from a consortium led by Power Finance Corporation Limited (PFC), and other two lenders, Rural Electrification Corporation Limited (REC) and India Infrastructure Finance Company Limited (IIFCL), for setting up a thermal power plant in Tuticorin, Tamil Nadu.