Way cleared for Venkateswara Rao’s bail

The Police on Monday presented  Krishi Bank Chairman  Kosaraju Venkateswara Rao  before the Nampally Couort.  The decks have been cleared for the  granting conditional  bail  to Venkateswra rao as his  relatives  were ready to  deposits security amount of Rs 2 crore  with the court.

Venkateswara Rao, who was chairman of the Krishi co-op bank was arrested a few years ago in connection with 40 crores bank fraud is now an under trial in Chanchalguda Jail.During the  Telugu Desam Party  rule Venkateswara Rao  was involved in the Rs 40 crore scam and left the country. He was  arrested by the Bangkok  Police and was handed over to their counterparts in Hyderabad.