State Finance Corp issues notices to former MLA Jeevan Reddy’s wife

According to reports, Jeevan Reddy took a loan of Rs.20 crore in his wife's name from the corporation in 2017 for the construction of a mall and failed to repay it

Nizamabad: The State Finance Corporation (APSFC) has on Tuesday issued a notice to former Armoor MLA A Jeevan Reddy’s wife Rajitha Reddy for non-payment of loan and interest amount to a tune of Rs.40 crore. The Corporation officials pasted the notice on the door of Jeevan Reddy’s residence situated in Armoor.

According to reports, Jeevan Reddy took a loan of Rs.20 crore in his wife’s name from the corporation in 2017 for the construction of a mall and failed to repay it. The former MLA’s family owes Rs 40 crore, including principal and interest, to the State Finance Corporation.

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Meanwhile, the North Power Distribution Company Ltd (NPDCL) has disconnected the power supply to the mall following non-payment of power bills to a tune of Rs 2.5 crore.