Behind the Scene: Krushi scamster's real - estate property for sale

Mon, April 17, 2006; Posted: 10:06:31 pm EST

Related Categories: Business Crime Hyderabad Real_Estate

Scamster and former chairman of the liquidated Krushi Urban Cooperative Bank Kosaraju Venkateshwar Rao’s property will be auctioned on April 22. The money raised from the auction will be used to settle claims of depositors, according to an official release issued here on Monday.

The CID had attached property, including three portions of a commercial complex located at Punjagutta of the former chairman of the scam hit bank.

Venkateshwar Rao was recently arrested by the police in Thailand following an Interpol alery issued by the CID and the process to extradite him to the city has begun.

The property which will be auctioned is located at GS Chambers, Nagarjuna Circle, Punjagutta which includes a 7,500 square feet space on the second floor with a registration value of Rs 81 lakh; 5250 sft in the third floor (costing Rs 66.70 lakh ) and 2,075 sft in the fourth floor worth Rs 22.41 lakh.

The auction will take place at the premises of the Metropolitan Sessions Judge ( MSJ ) court, Nampally on April 22 at 10:30 am.

Person’s interested in participating in the auction can visit the places till April 21, the CID release said.