Tollywood super star Mahesh Babu's brother in law seems to have landed in deep trouble. Shocking allegations are coming on Guntur MP Galla Jayadev that he conspired to own a rented building for less than the market value conspiring with the bank manager.
Guntapalli Srinivasa Rao has taken a loan of Rs 2.30cr from bank on his 3 floor building at Brundavan Gardens. However he failed to pay EMIs due to financial problems. The building was rented to Galla Jayadev in 2014 and he started using it for TDP party activities.
It is comingout that Galla Jayadev is using his influence as MP to pressurise bank employees to auction the building. Buzz is he conspired with the DGM of Andhra Bank to fix the price of the building at Rs 2.80cr while the actual market value is Rs 7.5cr.
Supporters of Galla Jayadev are threatened people who wish to take part in the auction. Guntapalli Srinivasa Rao sought more time before the Debt Recovery Tribunal. Bank officials decided to auction the building despite the Tribunal issued orders to the Bank asking it to extend the period if the Owner pays Rs 1 crore by June 24th. What is more shocking is before auctioning ,they didnot ask Galla Jayadev to vacate the building in gross violation of the rules.
