The Additional Deputy General of Police for the CID wing, Andhra Pradesh has requested the central agencies to take severe actions against Ramoji Rao and his most controversial chit fund group, Margadarsi.
In his latest press meet, N Sanjay, the Additional DIG stated that the group of Margadarsi which has many branches in the two Telugu states apart from Karnataka and Tamil Nadu has been involved in multiple offenses such as cheating, money laundering, and evasion of taxes. In addition to the already registered FIRs on Margadarsi, as it violated the Chit Fund Act of 1982, ADIG claimed that the group helped some benamis to use the company to invest and transfer black funds to convert them into white. So most of their financial crimes which are in the lines of Satyam fraud come under the jurisdiction of Central Agencies like CBI, the Enforcement Department, Income Tax, etc so Sanjay asked them to take immediate action against the group.
Already the AP CID took great care in investigating the main directors of the Margadarsi group which involves the Media baron Ramoji Rao and others and termed them as the main accused. They also attached more than two lakh crores of properties and 95000 crores of movable assets that belong to the Margadarsi group. One has to wait and see if the Central Agencies step in to take action on Ramoji Rao who has good links with the BJP Government or not.