PNS | Vijayawada
Chairman of Margadarsi Chit Fund Company Limited, Cherukuri Ramoji Rao, and its Managing Director, Cherukuri Sailaja, were absent during the scheduled questioning by the CID in Vijayawada. Despite receiving official notices from the CID to appear at their office on August 16 and 17, respectively, both Ramoji Rao and Sailaja did not comply.
Wednesday saw the absence of Ramoji Rao from the questioning session, followed by Sailaja’s non-appearance on Thursday. This situation marks the second occurrence in which both individuals have evaded CID inquiries, opting to abstain from sessions held outside their residences.
Earlier, the CID had summoned them for questioning at the Guntur office on July 5, an appointment they chose not to honor. The forthcoming actions that the AP CID plans to undertake to facilitate the questioning of Ramoji Rao and Sailaja remain uncertain. The CID, in conjunction with officials from Stamps and Registration as well as Revenue Intelligence, executed search operations across the entire network of 37 Margadarsi branches within Andhra Pradesh. These efforts are concentrated on validating records pertaining to tax payments, account books, and customer bid money disbursements. Insider sources suggest that authorities are also reviewing the company’s financial transactions across all 37 branches.
