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After the Enforcement Directorate conducted raids at his offices and residence, Senior Telugu Desam Party leader and former Union Minister Y. Sujana Chowdary on Sunday rejected the allegations made by the ED.
The ED has claimed that the MP's group of companies have defrauded banks to the tune of Rs.5,700 crore.
Chowdary, while addressing the Media said, "From past 27 years I am staying in a single house. After entering politics I have not participated in the business. ED said that banks have complained against my companies but none of the banks have complained. There are no companies on my name. ED has showed the wrong amount in the balance sheet. The ED raids seems to be like a quick act."
ED and the Income Tax Department on Friday raided the home and offices of Chowdary.
The directorate also issued a summon notice for further investigation by the agencies.
The searches were conducted in seven locations in Hyderabad and one in New Delhi.
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