Kolkata Police raids firms "linked" to CBI's Rao

The Kolkata Police on Friday raided two premises here one of which belonged to a company which was allegedly linked to former interim director of CBI M Nageswara Rao.

Rao in a press release issued last October had denied any connection with Angela Mercantile Pvt Ltd.

“In 2010, my wife Mannem Sandhya took a loan of Rs 25 lakh from M/s Angela Mercantile Pvt Ltd owned by Praween Agarwal, a longtime family friend. The sum was used in the joint purchase of a property in Guntur, AP (Andhra Pradesh). Mannem Sandhya later in the year 2011 sold her ancestral agricultural land of 11-17 acres for a sum of Rs 58.62 lakh and transferred it to M/s Angela Mercantile Pvt Ltd, which after deducting the loan amount of Rs 25 lakh, and adding interest, a sum of Rs 41,33,165 was returned to Mannem Sandhya in July 2014. Due intimations were given to competent authorities immediately,” stated Rao in the letter.

"Lastly I deny all other reports as they are incorrect and untrue," stated Rao in the press release.

The development comes days after a standoff took place here between the CBI and the city police over the former’s attempt to question Kolkata Police Commissioner Rajeev Kumar in the chit fund scam.