Yalamanchali Satyanarayana Chowdary (YS Chowdary), chairman of Sujana group of companies and a member of Parliament (MP) from the Rajya Sabha, has joined Bharatiya Janata Party (BJP), leaving Telugu Desam Party (TDP). Mr Chowdary and his Sujana group of industries are among of the biggest bank defaulters and are under probe by several investigation agencies.
Last year, in November, the Enforcement Directorate (ED) had attached assets worth Rs315 crore, including six luxury cars and documents during their raids at Mr Chowdary's residence and offices. The searches were conducted in a case of bank fraud of over Rs6,000 crore by more than 120 shell companies allegedly controlled by Mr Chowdary
Last year, in November, the Enforcement Directorate (ED) had attached assets worth Rs315 crore, including six luxury cars and documents during their raids at Mr Chowdary's residence and offices. The searches were conducted in a case of bank fraud of over Rs6,000 crore by more than 120 shell companies allegedly controlled by Mr Chowdary
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