New Delhi: Cherukuri Ramoji Rao-led Margadarsi Chit Funds Private Limited (MCFPL) faced a significant setback in the Supreme Court on Tuesday. The Supreme Court made crucial observations during the hearing in the case related to illegal deposits by Margadarsi financiers. The top court said there was a need for a detailed scrutiny of the deposits, and the matter would be
Currently, AP-CID is probing the irregularities in Margadarsi Chit Funds Private Limited (MCFPL). According to officials, MCFPL was found to be running 40 percent chit groups of MCFPL without subscribers.
Katasani Rambhupal Reddy is the MLA from YSRCP of Panyam Constituency, Kurnool Dist has dared on Eenadu Ramoji Rao for targeting his family members with fake news reports and to prove his Rs 1,000 cr assets allegation.
In an attempt to pull out a Bollywood-style stunt at the company’s celebrations at the Film City, the event organisers asked the CEO and executive to enter an iron cage. The iron chain supporting the cage broke while the crew was lowering it and both the individuals received grievous injuries.
In a shocking development, Gadireddy Yuri Reddy, the son of Gadireddy Janardhan Reddy, the co-founder of Margadarsi Chit Funds, has levelled serious allegations against partner Ramoji Rao. Yuri Reddy alleged that Ramoji Rao had locked him into a room and threatened with a gun and thus forced to sign the empty stamp papers. In his complaint, Yuri Reddy alleged that their
N Sanjay, Additional Director General of Police (ADGP) of AP CID, at a press conference held on Sunday said, “A number of irregularities involving fraudulent membership have been discovered. The company's financial situation is very uncertain, and in order to pay its subscribers, it is dependent on their recent and new subscriptions.”
Amaravati: The Andhra Pradesh Police CID conducted raids on various branches of Margadarsi Chit Fund Pvt Ltd across the state on Thursday. The joint search operation was launched by the officials of AP CID, AP Stamps and Registration department and Directorate of Revenue Intelligence (DRI). The AP CID has alleged that Margadarsi is involved in a string of alleged
: On July 30, a notice has been given to all the subscribers of the Margadarsi chit fund stating that the Margadarsi was alleged to have many financial irregularities, criminal violations and diversion of funds under the Andhra Pradesh Registrar of Chits.
The Andhra Pradesh CID had registered seven FIRs against MCFPL for alleged financial irregularities based on a complaint by the Commissioner and Inspector General (Registration and Stamps).
Vijayawada: Andhra Pradesh Social Welfare Minister Merugu Nagarjuna on Tuesday slammed Telugu Desam Party (TDP) chief Chandrababu Naidu for wooing Dalits ahead of Assembly elections in the state. The YSRCP minister said Naidu had done nothing for the welfare of the Dalit community during his time as chief minister. He said during TDP’s regime Dalits were attacked but the then