Industrialist turned politician, N. Nageshwar Rao has resigned from the Telugu Desam Party on Tuesday. Former MP from Telangana and politburo member of TDP, one of the country's rich politicians and they declared their assets worth 113 crores.

Nageshwar Rao represented Khammam Lok Sabha constituency from 2009 to 2014. He has been associated with TDP for the last fifteen years and in the Lok Sabha, he served as the leader of the TDP Parliamentary Party. Former MP and industrialist recently contested the assembly elections in Telangana but lost to TRS's P Ajay Kumar.

Since then, Rao had crossed the activities of TDP and did not participate in the meeting of the Politburo of Amravati on Sunday. On Monday evening, he was the chairman of TRS and Chief Minister of Telangana. Chandrasekhar met with Rao. It is believed that Rao can join TRS soon and he can be thrown out as a candidate for the Lok Sabha elections instead of the current Parliament, P Srinivas Reddy.