Galla Jayadev accused of grabbing' house
Ms Padmaja said that the MP pressurised the bank to put the building for auction to recover its loan as the EMI were not paid.
Guntur: One Guntupalli Padmaja on Friday met AP Chief Minister N. Chandrababu Naidu at his camp office in Vijayawada and lodged a complaint against industrialist and Guntur MP Galla Jayadev, accusing him of “grabbing” her property at Brundavan Gardens in Guntur, worth over Rs 9 crore for a mere Rs 3 crore. However, Mr Jayadev denied any wrongdoing and said that the entire transaction was above board.
Ms Padmaja told Mr Naidu that she had taken a loan of Rs 2.30 crore from Andhra Bank by giving the three-storeyed house to the bank as security in 2013. She said that Mr Jayadev had taken her house on rent during 2014 elections and later continued to use the building as his residence-cum-office. She said that due to her poor financial condition she failed to pay the EMIs on the loan she had taken.
Ms Padmaja said that the MP pressurised the bank to put the building for auction to recover its loan as the EMI were not paid. She further alleged that Mr Jayadev pressurised the bank officials to set the base auction price at a mere Rs 2.80 crore against the government value of Rs 7.50 crore.
Ms Padmaja alleged that when she moved the Debt Recovery Tribunal seeking time to clear the loan, the DRT directed Andhra Bank to give time but the bank officials, on orders from Mr Jayadev, proceeded with the auction, facilitating the MP to buy the house for a mere Rs 3.09 crore.
Ms Padmaja sought justice and cancellation of the auction process. Meanwhile, The MP said that he participated in the auction and emerged the highest bidder while taking care to follow all norms. He described Ms Padmaja’s accusation as baseless and politically motivated.