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BJP Legislative Party leader A. Maheshwar Reddy has accused Revenue Minister Ponguleti Srinivas Reddy’s company, Raghava Constructions (India) Private Limited, of involvement in the Euro Exim Bank scam. At a press conference on Monday, Reddy urged the State government to request a Central Bureau of Investigation (CBI) probe into the allegations.
“Euro Exim Bank is not listed among the banks in the state and its operations breach RBI guidelines,” Maheshwar Reddy stated. He criticized Ponguleti, asserting that the minister should step down due to these allegations. He called for an immediate inquiry into the Euro Exim Bank guarantees and pledged to reveal the names of the contractors involved in the scam in the near future.