PNS|Vijayawada
In a significant development, the Crime Investigation Department (CID) has issued fresh summons to Ramoji Rao, the chairman of Margadarsi group, and Shailaja Kiron, his daughter-in-law and the managing director of Margadarsi Chit Funds Private Ltd. They have been asked to appear before CID’s Deputy Superintendent of Police Ch Ravi Kumar at the regional office in Guntur on July 5 at 10.30 am.
This move indicates that the noose is tightening around 87-year-old Ramoji Rao in connection with alleged irregularities in the Margadarsi Chit Funds fraud case, which is currently under investigation by the Andhra Pradesh CID.
The CID aims to question Ramoji Rao, the prime accused in the Margadarsi Chit Funds fraud case, to facilitate a more comprehensive investigation and gather additional information related to the case.
Alongside Ramoji Rao, Shailaja Kiron, and G Sivarama Krishna, the branch manager of Margadarsi Chit Funds’ branch in Arundalpet, Guntur, have also been summoned.
The CID intends to question all three individuals together, collectively and simultaneously, at the same location.
Previously, CID officials had conducted questioning sessions with Ramoji Rao and Shailaja Kiron at their respective residences in Hyderabad. Additional Director General of CID, N Sanjay, stated that their responses during the questioning were unsatisfactory.
There are indications that the CID may exercise its discretion to arrest Ramoji Rao and Shailaja following the interrogation on July 5. Such a development would have severe implications for the reputation of Eenadu, particularly for Ramoji Rao.
It remains to be seen whether Ramoji Rao will approach the court seeking anticipatory bail in light of the CID’s investigation. The CID chief has already declared the Margadarsi Chit Funds case as one of the largest financial frauds in the state.
