The AP high court on Monday issued a stay order on the state government inspections in the Margadarsi Chit Fund Company Limited offices in the state. The court said that it would give interim orders in the next two days.
The state government and the Margadarsi Group headed by its chairman Cherukuri Ramoji Rao have locked horns in the state. While Eenadu, also headed by Ramoji Rao, continues to write against the Jagan Mohan Reddy-led government, the government is conducting searches in the Margadarsi offices and filing cases against the chairman and other employees.
The State CID had already booked cases against Ramoji Rao and Margadarsi managing director Sailaja Kiran in the cases. Besides, the CID had also booked cases against some managers of the Margadarsi branches in the state.
The CID, the Stamps and Registration Department and the revenue wing in the finance department have been conducting raids on the Margadarsi offices for the past two days in the state. There are 37 Margadarsi branches in the state and searches are being conducted in all the branches.
The CID have also filed cases against the Margadarsi by taking complaints from some customers of the chit fund company. The CID had also alleged that the Margadarsi had fake subscribers, while some subscribers were not paid their bid (chit) money.
However, the Margadarsi continued to claim witch-hunt by the Jagan Mohan Reddy government and discounted all the allegations of financial irregularities in the chit fund company.
Meanwhile, a section of people in the two Telugu states and elsewhere have come to the rescue of Ramoji Rao. A hashtag campaign in support of Ramoji Rao was launched in the social media alleging that the Jagan Mohan Reddy-led government was haunting Margadarsi and Eenadu groups.
The campaign – #TeluguPeopleStandWithRamojiRao – is trending in social media.