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Search results for margadarsi

Telangana HC Slams AP, Telangana for Delay in Margadarsi Case
1 week, 5 days ago

Telangana HC Slams AP, Telangana for Delay in Margadarsi Case

Deccan Chronicle  

HYDERABAD: The Telangana High Court on Friday expressed anger at the Telangana and Andhra Pradesh governments for the delay in submitting their contentions on the criminal proceedings against Margadarsi Financiers and its chairman, the late Ch. After re-commencing hearing in June 2024, following the directions of the Supreme Court, the Telangana High Court directed the Telangana and AP governments to …

Court Criminal Proceedings Telangana High Rbi Ramoji Rao Margadarsi
Proceedings Against Margadarsi: HC Questions TG and AP Silence
2 months, 1 week ago

Proceedings Against Margadarsi: HC Questions TG and AP Silence

Deccan Chronicle  

Hyderabad: The Telangana High Court on Thursday questioned the Telangana and Andhra Pradesh state governments for the delay in filing their contentions in regard to criminal proceedings against Margadarsi Financiers, facing charges of collecting deposits in violation of RBI rules and guidelines. The division bench, comprising Justice Sujoy Paul and Justice Namavarapu Rajeshwar Rao, asked the two state governments to …

Court
Ch Ramoji Rao: A Legend in His Lifetime
7 months, 1 week ago

Ch Ramoji Rao: A Legend in His Lifetime

Deccan Chronicle  

Ch Ramoji Rao, a Padma Vibhushan awardee, was one of the rare personalities who became a legend during their own lifetime. Ramoji Rao was likely the first South Indian regional media personality to venture into North India with a string of TV channels, though he eventually lost them. Despite his diverse business interests, Ramoji Rao’s true passion always remained in …

Telugu Rao Ramoji Ramoji Rao Lifetime Ch
Ramoji Rao’s entrepreneurial journey began in Visakhapatnam
7 months, 1 week ago

Ramoji Rao’s entrepreneurial journey began in Visakhapatnam

The Hindu  

Telugus residing across the globe and in the two States of Andhra Pradesh and Telangana lost their legendary personality and Ramoji Group founder Cherukuri Ramoji Rao on June 8. But many may not know that Ramoji Rao’s entrepreneurial journey had started in Visakhapatnam. Ramoji Rao had taken a defunct film studio at Seethammadhara for rent to launch the first edition …

Telugu Rao Visakhapatnam Ramoji Ramoji Rao Eenadu
Sajjala says YSRC will Win if Elections are Free and Fair
9 months ago

Sajjala says YSRC will Win if Elections are Free and Fair

Deccan Chronicle  

Vijayawada: YSRC general secretary and government adviser Sajjala Ramakrishna Reddy said the Supreme Court of India will expose all the economic offenses committed in the name of Margadarsi by its chairman Ramoji Rao. Speaking to media persons here on Thursday, he said Ramoji Rao has been involved in economic offenses since years after starting Margadarsi. Ramakrishna Reddy alleged that the …

Ysrc
Supreme Court Refuses To Transfer Margadarsi Chit Fund's Appeals From Andhra Pradesh HC To Telangana HC
11 months, 1 week ago

Supreme Court Refuses To Transfer Margadarsi Chit Fund's Appeals From Andhra Pradesh HC To Telangana HC

Live Law  

The Supreme Court on Friday refused to transfer the criminal appeal pending against Margadarsi Chit Fund Private Limited before the Andhra Pradesh High Court to the Telangana High Court. At the outset, when the matter was called on for hearing, the Bench of Justices Abhay S Oka and Ujjal Bhuyan asked the petitioner's counsel “why do you want to transfer …

Supreme Court Court Transfer Telangana Company High Fund
HC directs AP not to conduct inspections on Margadarsi branches
1 year, 4 months ago

HC directs AP not to conduct inspections on Margadarsi branches

Deccan Chronicle  

VIJAYAWADA: The Andhra Pradesh High Court has directed the AP government not to conduct any inspection on the branches of Margadarsi Chit Funds except in strict compliance with provisions of Section 46 of the Chit Funds Company Act. The court observed, “Section 46 of the Act, provides for inspection of chit books and chit records during the working hours on …

Court Inspection Act Cid Inspections Chit Section 46
HC asks AP CID to stop inspection of Margadarsi branches
1 year, 4 months ago

HC asks AP CID to stop inspection of Margadarsi branches

Deccan Chronicle  

Vijayawada: The Andhra Pradesh High Court has suggested to the state government not to inspect branches and verify records of the Margadarsi Chit Fund with regard to the chit fund scam until it issued an interim order in the case. A single judge bench headed by Justice N. Jayasurya heard on Monday a petition filed by Margadarsi’s authorised signatory, P. …

Inspection Cid Branches Inspect Margadarsi Chit
Vijayawada court summons seven accused in Margadarsi chit fund scam
1 year, 5 months ago

Vijayawada court summons seven accused in Margadarsi chit fund scam

Deccan Chronicle  

Vijayawada: The first additional district sessions court in Guntur summoned seven suspects in the Margadarsi chit fund fraud to appear for a hearing in a criminal defamation complaint filed by the APCID for defaming it by publishing a disparaging and venomous article in Eenadu on April 13, 2023. On Thursday, additional advocate general Ponnavolu Sudhakar Reddy told media that the …

Margadarsi Chit Fund Margadarsi Chit Chit Fund Court Summoned
CID cautions chit subscribers against signing on papers without verification
1 year, 5 months ago

CID cautions chit subscribers against signing on papers without verification

Deccan Chronicle  

Vijayawada: The state CID has cautioned the Margadarsi Chit Funds subscribers against appending their signatures on documents at the behest of any agent or manager without proper verification. The stamps and registration department issued orders to several MCFPL chit groups to wind them up for norms violations in running them while Margadarsi and a few subscribers challenged such orders in …

Cid Subscribers Chit Mcfpl Chit Subscribers
AP CID serves notices on Margadarsi subscribers who deposited over Rs.1 cr
1 year, 6 months ago

AP CID serves notices on Margadarsi subscribers who deposited over Rs.1 cr

Deccan Chronicle  

Vijayawada: The state CID has served notices on subscribers who made cash deposits of over one crore in the Margadarsi Chit Funds company. In a release, CID director general PSR Anjaneyulu said on Tuesday that the department specially targeted the subscribers who made huge cash deposits in the chit groups, to find out the nature and legitimacy of their transactions. …

Cid Cash Deposits
Andhra Pradesh Govt. files defamation case against Eenadu for publishing ‘adverse, false and fabricated’ news against it and CID
1 year, 6 months ago

Andhra Pradesh Govt. files defamation case against Eenadu for publishing ‘adverse, false and fabricated’ news against it and CID

The Hindu  

The Andhra Pradesh government has filed a defamation suit against the ‘Eenadu’ management, who included the group’s Chairman Ch. Sailaja Kiron, the daily’s editor Nageswara Rao, and Bureau Chiefs of Andhra Pradesh and Telangana, for allegedly publishing adverse news against the State government and the Crime Investigation Department. The government has alleged that the Eenadu group published “adverse, false, fabricated …

Cid Defamation Case Eenadu Sudhakar Reddy
Margadarsi Responsible for One of Biggest Financial Frauds': AP CID
1 year, 6 months ago

Margadarsi Responsible for One of Biggest Financial Frauds': AP CID

Deccan Chronicle  

Hyderabad: The Andhra Pradesh CID, which is investigating alleged violations by Margadarsi Group, on Tuesday claimed they are “in the process of preventing one of the biggest financial frauds ever committed” under the guise of a chit fund. Andhra Pradesh CID chief N. Sanjay, addressing mediapersons in Hyderabad, said: “Margadarsi Group is accepting deposits illegally, violating the Chit Funds Act, …

Group Cid Sanjay Chit Biggest Financial Margadarsi Margadarsi Group
Margadarsi: AP issues order to attach properties worth Rs 242.03 Cr
1 year, 6 months ago

Margadarsi: AP issues order to attach properties worth Rs 242.03 Cr

Deccan Chronicle  

Vijayawada: The Andhra Pradesh government has issued an ad-interim order to attach movable properties worth Rs 242.03 crore belonging to the Margadarsi Chit Fund Pvt Ltd, which is involved in a chit fund scam. Home principal secretary Harish Gupta issued GO Ms 116 on Thursday, allowing the AP CID to attach the properties of MCFPL worth Rs 242.03 crore. The …

Worth Attach Margadarsi Chit Fund Margadarsi Chit Chit Fund Mcfpl
SC Adjourns Hearing in Margadarsi Case to July 18
1 year, 7 months ago

SC Adjourns Hearing in Margadarsi Case to July 18

Deccan Chronicle  

Vijayawada: The Supreme Court has heard AP’s plea for a stay on the Telangana High Court’s direction against any action on the owners and employees of Margadarsi Chit Funds. A vacation SC Bench of Justices Aniruddha Bose and Rajesh Bindal heard AP’s plea seeking transfer of a batch of petitions filed by MCFPL and others in Telangana High Court to …

Court High Mcfpl
Andhra Pradesh CM says TDS manifesto-like ‘besi bele bath’: ‘Taken from Congress, BJP'
1 year, 7 months ago

Andhra Pradesh CM says TDS manifesto-like ‘besi bele bath’: ‘Taken from Congress, BJP'

Hindustan Times  

Andhra Pradesh chief minister YS Jagan Mohan Reddy on Thursday accused former CM N Chandrababu Naidu of copying schemes for his party's manifesto for the state assembly elections scheduled next year. Speaking at an event in Kurnool, he termed Telugu Desam Party 's “mini election manifesto” as a ‘bisi bele bath'- a popular rice-based rich from Karnataka and a ‘pulihora’ …

Naidu Manifesto Andhra Pradesh Chief
Naidu has quid pro quo with Ramoji, says ex-MP Arun
1 year, 8 months ago

Naidu has quid pro quo with Ramoji, says ex-MP Arun

Deccan Chronicle  

VISAKHAPATNAM: Former MP, Vundavalli Arun, has alleged that Ramoji Rao is having a quid pro quo with TD national president Nara Chandrababu Naidu. “It kept to itself all information related to public deposits held by it illegally for close to two decades.” “Without revealing the deposits, Margadarsi maintained secrecy for 17 years. Some people with vested interests had even said …

Ramoji Ramoji Rao Mcfpl
AP CID serves notices on Ramoji, Sailaja in Margadarsi chit fund scam
1 year, 9 months ago

AP CID serves notices on Ramoji, Sailaja in Margadarsi chit fund scam

Deccan Chronicle  

Vijayawada: The Andhra Pradesh Crime Investigation Department has served notices separately on the Margadarsi Chit Fund chairman Cherukuri Ramoji Rao as also his daughter-in-law and managing director Cherukuri Sailaja in connection with the unlawful diversion of funds for investment in the speculative market. The CID had recently carried out raids on chit fund firms including the Margadarsi, detected a series …

Fund Cid Chit Margadarsi
AP to conduct detailed audit at all 37 branches of Margadarsi
1 year, 9 months ago

AP to conduct detailed audit at all 37 branches of Margadarsi

Deccan Chronicle  

VIJAYAWADA: The Andhra Pradesh government would conduct a detailed audit on all 37 branches of the Margadarsi Chit Funds Pvt Ltd under Section 61 of the Chit Funds Act, 1982. “Hence, there was a need for a detailed audit report to unearth the irregularities committed by the company.” The qualified auditor came up with findings in the audit as per …

Audit Chit Margadarsi Detailed Audit
APCID asks central agencies, other states to examine financial lapses by Margadarsi
1 year, 10 months ago

APCID asks central agencies, other states to examine financial lapses by Margadarsi

Deccan Chronicle  

VIJAYAWADA: The Andhra Pradesh Crime Investigation Department is taking up a detailed probe into the financial irregularities in Margadarsi Chit Fund Pvt Ltd by involving several central agencies to examine several aspects, initiate action and safeguard the interests of chit subscribers in AP and elsewhere. CID additional DGP, N. Sanjay, said in a release here on Wednesday that specialised wings …

Cid Margadarsi Examine Financial
Andhra Pradesh likely to order shut down of Margadarsi
1 year, 10 months ago

Andhra Pradesh likely to order shut down of Margadarsi

Deccan Chronicle  

VIJAYAWADA:The Andhra Pradesh government is likely to order the winding up of operations of the Margadarsi Chit Fund Pvt Ltd in the state following the detection of a series of violations like diversion of funds and investing them in speculative markets. “The foremen functioning as branch managers had no role to play except to forward the subscribers’ sums to the …

Violations Branch Managers Sanjay Chit Margadarsi
AP CID arrests four Margadarsi foremen; investigation in progress
1 year, 10 months ago

AP CID arrests four Margadarsi foremen; investigation in progress

Deccan Chronicle  

HYDERABAD: The state CID has arrested four foremen of M/s Margadarsi Chit Funds Pvt Ltd during searches in seven of its branches, citing violation of norms, officials reported on Sunday. According to the CID, complaints were received from the Assistant Registrar of Chits against M/s Margadarsi Chit Funds and their authorised foremen of branches at Visakhapatnam ; Rajahmundry, Eluru, Vijayawada, …

Officials Cid Branch Subscribers Chit Mcfpl
CID searches Margadarsi offices in AP, seize records, book Ramoji Rao, Sailaja
1 year, 10 months ago

CID searches Margadarsi offices in AP, seize records, book Ramoji Rao, Sailaja

Deccan Chronicle  

Vijayawada: Crime Investigation Department teams carried out simultaneous searches at the branches of Margadarsi Chit Funds Private Limited located in Visakhapatnam, Rajamahendravaram, Eluru, Vijayawada, Guntur, Narasaraopeta and Anantapur on Saturday. The searches comes a day after FIRs were registered on Friday under relevant sections and company’s chairman Cherukuri Ramoji Rao, managing director Cherukuri Sailaja, and branch managers of the company …

Company Cid Vijayawada Eluru Private Limited Chit Seize Records
Irregularities found in 35 chit fund companies
2 years, 1 month ago

Irregularities found in 35 chit fund companies

Deccan Chronicle  

Vijayawada: Commissioner of state Registration & Stamps department, V. Ramakrishna, said on Friday that irregularities were detected in 35 chit fund companies in Andhra Pradesh and legal action would follow. There exist 587 branches of about 423 chit fund companies, through which 6,868 chit groups are working and their annual turnover was Rs 638.99 crore, he said. The workshop aimed …

Margadarsi Chit Chit Fund Companies Fund Companies