Rayagada Truck Owners’ Association levels Rs.60 crores misappropriation against Ex-MP and District BJD President N Bhaskar Rao
Rayagada (Badal Tah): “For last two financial years, the turnover of Rayagada Truck Owners’ Association(RTOA) is more than ₹.2 crores since I have taken charge as President of the association. Prior to this, for nearly 37 years, from 1983 to 2020, Nekkenti Bhaskar Rao, managed the show as President without proper registration, using undue influence and muscle power to collect unauthorized funds leading to ghost administration”, said Yalla Venkateswar Rao (Konda Babu), presently the President of (RTOA) during a press conference shedding light on long-standing financial irregularities and misappropriation of funds by Bhaskar and showing several documents as evidential proof. More than ₹.60 crores were diverted by Bhaskar Rao from RTOA’s collection for his and his family members’ personal gain and illicit purposes. This has come to light through our internal investigations and then cpmplaints are filed with Rayagada police authorities, expressed by the colleagues of Yalla present on the dais.
Rayagada Police under Section 91 of the Cr.P.C. via Memo No. 8153 dated July 23, 2025, sought circumstantial evidences from Yalla against their FIR. For the financial year 2023-24, RTOA conducted audit, presenting all relevant documents, including ledger entries, vouchers and receipts. In the history of RTOA, for the first time, a payment of approximately ₹ 1,65,000 in the form income tax has been paid– a step towards a full legal compliance that had been neglected and never complied by Bhaskar Rao for nearly four decades. No formal elections were held with ill intentioned governance, ensuring financial non-transparency and unilateral decisions.
In 2024-25, RTOA invested ₹ 60,00,000 in constructing a perm anent office building for the association, providing a dedicated space for operations, meetings and member services. This project was funded through legitimate member contributions and transparent collections, with all expenditures documented; but Bhaskar Rao never invested RTOA’s money even buying an inch of land. The present RTOA has provided financial assistance to owners facing emergencies, such as accidents or untoward incidents, distributing aid in the form of cash and resources. Additionally, RTOA has initiated regular social welfare schemes, including pothole repairs works at border route Andhra Odisha Border Kuneru etc, support for members’ families in the event of accidents to their respective vehicles, and emergency relief funds. Bhaskar Rao did never take up such welfare and development activities but used the accumulated funds in his concocted companies like Aditya logistics. RTAO now represent over 600 truck owners. They have maintained relevant records, including bank statements, contribution details, and meeting minutes, to prevent any future irregularities. These efforts have restored trust among members, who were previously intimidated with threats and coercion by Bhaskar Rao.
N. Bhaskar Rao, who physically managed the association from the beginning until 2020, allegedly collected funds without receipts, vouchers, or proper accounting during this period. From 2005 onward, he imposed charges like ₹ 50 per ton of load (commission based on truck capacity), ₹ 100 per truck for serial charges, ₹ 1,000 per outside vehicle and accordingly it is expected the misappropriation to the tune of ₹ Sixty Crores within the period of 1983-2020 since he was running a sole monarchy over the association.
The present RTAO office bearers have uncovered documents showing cheque remittances for membership fees and contributions being credited directly to N. Bhaskar Rao’s personal account or those of his instructed henchmen bypassing the association’s informal governance entirely. Specific instances include payments from truck owners that were not reflected in ledgers. No receipts were issued, and when members demanded accounts in April 2023, he reacted with anger, threatening to ban their trucks and harm their lives using political influence and muscle power.
In Rayagada peripheral area, where Naxalite activities peaked around 2003, N. Bhaskar Rao allegedly demanded money from the association to fund these groups, collecting ₹ 5,000 per truck initially (reduced after protests) and escalating to per-ton levies. Members who resisted became victims of his anger & greed, going bankrupt or selling vehicles. Present RTOA filed FIRs on April 18, 2023 and April 30, 2023, detailing illegal funding of a terrorist organization, misappropriation and threats. These irregularities constitute extortion, criminal misappropriation, cheating, breach of trust, and intimidation under relevant acts.
N. Bhaskar Rao’s establishment of multiple companies raises serious questions about the origins of his capital, especially given his long control over association funds. The sources for this allegation are based on his election affidavit 2016 and certain sale of immovable property documents running in crores, in his and his family members. N. Bhaskar Rao’ s Illicit business empire and misuse & control of association funds has fuelled an extensive portfolio of his private companies, each a testament to his brazen misappropriation. Yalla has demanded a strict scrutiny of all the entities & companies like Sri AdityaTrading & Marketing Pvt.Ltd, Sri Aditya Logistics Pvt. Ltd, registered in his name or that of his family members. These companies, with performance reports from 2007 to 2024, reveal consistent profits that suspiciously align with association fund diversions. Sri Aditya Industries Pvt.Ltd, another entity is built on illicit gains. Arun Power Project Ltd is funded through exploited members’ contributions. Sree Siddi Vinayaka Mines Pvt. Ltd.: A mining venture with his unauthorized co lections. Sree Balaji Real Estates & Agri Developers, a blatant benami firm, with investment and sale transactions directly involving N. Bhaskar Rao and his family, as evidenced by documents from Ministry of Corporate Affairs(MCA), GOI. Sri Aditya Real Estate & Agri Developers, undeniably a benami operation controlled by N. Bhaskar Rao, with transaction records from MCA proving financial dealings with family members, confirming its illicit nature. Sri Aditya Logistics stands out as a flagship enterprise, its growth from 2007 to 2024 mirroring the unaccounted ₹ 60 crore allegedly siphoned from the association. Moreover, Sree Balaji Real Estates & Agri Developers and Sri Aditya Real Estate & Agri Developers are confirmed benami firms, with transaction documents from MCA revealing a chain of investments and sales between N. Bhaskar Rao and his family, well planned to conceal his ill-gotten wealth.
As former president, N. Bhaskar Rao leveraged the association’ s network to secure lucrative contracts with major industries like J.K. Paper Mills and Utkal Alumina, alongside HP gas dealerships. These opportunities, meant to benefit all members collectively, were hijacked for his personal enrichment, leaving truck owners vulnerable and deprived of their rightful earnings. Transaction records, performance reports, and family dealings demand a forensic audit to trace every rupee back to its source, mentioned the press release. As a former BJD Rajya Sabha MP (2016-2022) and Deputy Chairman of Odisha’s Planning Board, he used political influence to shield his activities. Public records show his family’s migration to Rayagada over 50 years ago, starting with farming but expanding into transport– coinciding with his control over Truck association. A thorough probe into all bank records, and other statutory documents are highly strictly essential to dig out the truth, Konda Babu said.
Between financial years 2015-24, Sri N. Bhaskar Rao and his family amassed significant wealth, far exceeding legitimate income sources, as declared in his election affidavits and public records. In his 2016 Rajya Sabha affidavit, he reported assets worth ₹ 33 crores, including movable and immovable properties like multi-storey buildings, luxury vehicles, and investments. Properties in Rayagada and beyond include plots, farms, and residences acquired during his tenure whose details are in the office of Rayagada sub registrar. From a modest background, his empire includes high-value real estate and business stakes. This is misappropriated association money– e.g., the ₹ 60 crore collected over decades without accountability. Here’s the simple breakdown, including details from the attached sale documents that show clear family ties, which involve money worth more than Rs. 100 crores. Sree Balaji Real Estates & Agri Developers: This looks like a front company. There are sale deeds showing direct involvement of N. Bhaskar Rao and his family. For example, a sale deed dated April 30, 2024, shows the firm selling land in Barjhola (Rayagada district) worth Rs. 68,80,000 to Nekkanti Chamundeswari Devi, who is explicitly listed as the spouse of Nekkanti Bhaskar Rao. There’s also a TDS payment receipt for Rs. 68,800 on this deal, paid under her name (PAN: ADZPNO675J). Plus, his election papers show he and his wife have put money into this firm. Sri Aditya Real Estate & Agri Developers: No doubt this is another hidden operation run by N. Bhaskar Rao. The transaction records ascertains money moves with his family, making it seem fishy. For instance, another sale deed from April 30, 2024, has this firm (represented by partner Balusu Venkateswar Rao) selling land in the same Barjhola area for Rs. 44,00,000 to N. Ch. Devi (again, his wife). She signs as the buyer, and the document confirms the firm as the seller. From these companies, there are sale documents that went to N. Bhaskar Rao’s family members—like his wife buying big chunks of land from them on the same day. This screams close control: why would “independent” firm s sell directly to the family if they weren’t linked ? His election affidavit makes it clear—he and his spouse have invested in real estate and similar things. The name “Sri Aditya” matches his other businesses, so it’s easy to connect the dots: these are probably his benami companies. They’ve been doing about 490 plot sales since 2012 up to now. For example, N. Bhaskar Rao’s 2016 Rajya Sabha affidavit shows he invested Rs 30 lakh in Sree Balaji Real Estates & Agri Developers and Rs 3.47 lakh in Sri Aditya Real Estate & Agri Developers. His wife also owns agricultural land in places like Visakhapatnam and Rayagada. Yalla Konda Babu and present Secretary Janakiramya and Treasurer Samal & the present CA have demanded an independent enquiry by police, NIA, or other agencies or otherwise family members and workers of the truck owners will take to the streets for sake of justice.
