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Andhra Pradesh CID serves notices to Ramoji Rao, daughter-in-law Sailaja in Margadarsi chit fund case

The crime investigation department (CID) of Andhra Pradesh on Monday served notices to the chairman of Margadarsi Chit Funds Private Limited (MCFPL) Cherukuri Ramoji Rao, his daughter-in-law and managing director of MCFPL Cherukuri Sailaja and branch managers of various branches of the chit fund company for alleged cheating, diversion of deposits into mutual funds, which are contingent on capital markets’ risks and violation of Chit Fund Business Act and Reserve Bank of India (RBI) guidelines. 

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Welcome To IANS Live - LatestNews - As Lokayukta sends notice, trouble round the corner for ex-Kerala minister

The complaints came from Veena Nair, a Congress leader here and a few others who alleged that purchases for fighting Covid, especially PPE kits, were purchased at a price of Rs 1,500 per unit, which they said was much higher than the price in the open market then.Inci ....

Veena Nair , Kerala Lokayukta , Pinarayi Vijayan , Veena George , Health Minister Veena George , Chief Minister Pinarayi Vijayan ,

Welcome To IANS Live - NATION - As Lokayukta sends notice, trouble round the corner for ex-Kerala minister

The complaints came from Veena Nair, a Congress leader here and a few others who alleged that purchases for fighting Covid, especially PPE kits, were purchased at a price of Rs 1,500 per unit, which they said was much higher than the price in the open market then.Inci ....

Veena Nair , Kerala Lokayukta , Pinarayi Vijayan , Veena George , Health Minister Veena George , Chief Minister Pinarayi Vijayan ,