The Andhra Pradesh high court on Wednesday gave a big relief to Ramoji Rao, chairman of Eenadu and Margadarsi groups. The court issued stay on the fresh FIR filed by the APCID against Ramoji Rao and his daughter-in-law Sailaja Kiran.
The police have filed fresh FIR against Ramoji Rao and Sailaja Kiran, based on the complaint given by Gadireddy Uri Reddy, son of late Gadireddy Jagannadha Reddy, more popular as G J Reddy. It was alleged that G J Reddy had given Rs 5000 to Ramoji Rao in 1960 to start Margadarsi Chit Fund Private Limited.
In return, Ramoji Rao had given 80 shares in Margadarsi to G J Reddy. These shares have become 288 shares over the years, Uri Reddy told the CID officials. After the death of his father, they tried to meet Ramoji Rao, he told the CID officials. However, with the intervention of some family members, he could meet Ramoji Rao in 2016.
Uri Reddy also told the CID that Ramoji Rao had offered some money to him and took his signatures on blank papers at gunpoint. Scared of the gun, he said he signed the blank papers and gave them to Ramoji Rao.
Uri Reddy also told the CID officials that Ramoji Rao had transferred the 288 shares of his father G J Reddy, to Sailaja Kiran, who is the managing director of Margadarsi now. He said he tried to convince Ramoji Rao to pay him the due amount. He also told the CID officials that instead of paying the due amount, Ramoji Rao never allowed him to meet.
Based on this, the CID officials have filed fresh FIR against Ramoji Rao and Sailaja Kiran. Acting on the fresh FIR, Ramoji Rao filed a quash petition in the high court. On hearing from both sides, the high court issued a stay order on the FIR and told the police not to take any action against Ramoji Rao till further orders.
