Andhra Bank to auction Rayapati Sambasiva Rao's assets on March 23

The Andhra Bank has issued a press release on Thursday to auction off assets belonging to former TDP MP Rayapati Sambasiva Rao. In this backdrop, the bank officials have said to be auctioning the Rayapati's assets in Guntur and New Delhi in connection to pending debts of worth Rs 837.37 crore.

The auction will be reportedly held for the 22,500-square-foot commercial building in Arundelpeta of Guntur and a flat in New Delhi on March 23. The value of the property in Guntur is tagged at Rs.16.44 crore and while that of the flat in Delhi is of Rs.1.09 crore.

The loan was taken from Andhra Bank in the name of Cherukuri Sridhar, Mallineni Sambashivrao, Raypati Ranga Rao, Devika Rani, Lakshmi along with Trans Trai India. The guarantors for this loan are Jagadish, Rayapati Jeevan, Narayana Chowdhary, Ranga Rao, Devika Rani, Lakshmi, CH Vani and Jagan Mohan Yalamanchali. It is advised in the statement to login to Andhra Bank website for further information.