The home of S. P. Y. Reddy, the Nandyal Jana Sena Party MP candidate who is the sitting MP also, was raided by the CBI on Saturday.
The news sources have reported that the raids continued till night. A few documents owned by Mr. Reddy have been seized. The MP had availed loans to the tune of ? 500 crores from numerous banks including State Bank of India and Syndicate Bank as per sources.
The raid was triggered by the alleged loan defaults to the banks.
While the raids took place Mr. Reddy was in Hyderabad receiving treatment at Care Hospital. Banjara Hills.
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