Reliance auctions assets of Telangana BJP's Rani Rudrama, Jitta Balakrishna Reddy for loan default

HYDERABAD: Assets worth Rs 2.1 crore of Telangana BJP leaders Rani Rudrama Reddy and Jitta Balakrishna Reddy have been put on auction by Reliance Asset Reconstruction company after the two failed to repay their debt.

The Reliance Asset Reconstruction Company is a trustee in the Lakshmi Vilas Bank RARC 038 Trust, LVB being the bank from which the loan was taken.

Reliance put up assets worth Rs 1.52 crore of Rani Rudrama and assets worth Rs 60 lakh of Jitta Balakrishna Reddy up for online auction.

Reportedly, both of them joined the Telangana BJP as they failed to repay the loan money, which they had taken to set up various businesses.