The ED has provisionally attached 105 immovable properties worth Rs 96.21 crore of Nama Nageshwar Rao’s road-construction company Madhucon Group.
The land properties located in Hyderabad, Vizag, Krishna, Prakasham, and West Bengal totalling to Rs 96.21 crore were attached by the ED.
This ED case stems from the 2019 CBI FIR filed against Ranchi Expressway, a Madhucon Group company.
In the case, it is mentioned that Madhucon Group took up a 4-laning of NH-33 project and did not complete the project despite taking full loan amount for the same.
A money laundering case has been filed against the company’s founders and further investigation is due.