Undavalli Slams Ramoji Rao Over Margadarsi Chit Fund Scam

Feb 04, 2024, 19:46 IST

Vijayawada: Former MP Undavalli Arun Kumar once again launched a tirade against media baron and Margadarsi Chit Fund Private Limited (MCFPL) Chairman Ramoji Rao, in correction with the alleged irregularities in the operations of MCFPL.

Arun Kumar said Ramoji has neither respect nor fear of the law of the land and the irregularities continue in his chit fund business entity. He said he will further expose the chit fund in the coming days.

He also welcomed the Supreme Court’s refusal to transfer the criminal appeal pending against Margadarsi Chit Fund Private Limited (MCFPL) from Andhra Pradesh High Court to the Telangana High Court.

Justices Abhay S Oka and Ujjal Bhuyan queried the petitioner's counsel about the rationale behind transferring a case from Andhra Pradesh to Telangana. Senior Counsel Siddharth Luthra, representing the Chit Fund Company, argued that the transfer was necessary as the cause of action for registering cases originated in Telangana. However, the AP Government argued that Margadarsi Chit Funds had committed crimes within Andhra Pradesh and opposed the transfer of cases to Telangana.

మార్గదర్శి చిట్‌ఫండ్‌లో అనేక అక్రమాలు జరిగాయి.

రామోజీ చట్టాన్ని పక్కనబెట్టి ఎలా నడపుతున్నాడు?

త్వరలోనే సంచలన విషయాలు బయటపెడతాను

-మాజీ ఎంపీ ఉండవల్లి అరుణ్‌కుమార్#MargadarsiScam #ScamsterRamoji pic.twitter.com/n6TMo4krrf

— YSR Congress Party (@YSRCParty) February 4, 2024