The hearing in Ramoji Rao and Sailaja Kiron’s quash petition in the AP High Court in the alleged threatening and illegal transfer of shares case was adjourned to Wednesday. Yuri Reddi, the son of Gadireddi Jagannath Reddi, one of the founders of Margadarshi Chit Funds, has filed a complaint with the AP CID, that his shares in Margadarshi were transferred to Sailaja Kiran’s name using forged signatures and documents. He claims that he was forced to transfer the shares at gunpoint. An FIR was registered under Sections 420, 467, 120-B, read with IPC section 34 registered against Ramoji Rao as A-1 and Sailaja Kiran as A-2. In this issue, Ramoji Rao and Sailaja filed a quash petition in the High Court challenging the CID FIR.
Supreme Court advocate Siddhartha Luthra who was arguing on behalf of Nara Chandrababu in the skill development case was the counsel for Ramoji and Sailaja.