HYDERABAD/GUNTUR: The Andhra Pradesh Crime Investigation Department (CID) probing the irregularities and funds diversion in the Margadarsi chit fund case on Tuesday had issued notices to Margadarsi MD Cherukuri Sailaja. CID DSP Ravi Kumar issued a notice to her asking her to be available for investigation on four dates 29th or 31st of this month or on the 3rd or 6th of
The crime investigation department (CID) of Andhra Pradesh on Monday served notices to the chairman of Margadarsi Chit Funds Private Limited (MCFPL) Cherukuri Ramoji Rao, his daughter-in-law and managing director of MCFPL Cherukuri Sailaja and branch managers of various branches of the chit fund company for alleged cheating, diversion of deposits into mutual funds, which are contingent on capital markets’ risks and violation of Chit Fund Business Act and Reserve Bank of India (RBI) guidelines.
Sleuths of the Andhra Pradesh Crime Investigation Department (APCID) arrested four foremen of Margadarsi Chit Fund Pvt Ltd (MCFPL) while probing a case registered against MCFPL and their authorised employees in seven branches following a complaint by the Assistant Registrar of Chits. The Assistant Registrar of Chits had earlier lodged a complaint against foremen of MCFPL
AMARAVATI: Inspector General of Stamps and Registrations and Andhra Pradesh Registrar of Chit Funds V Ramakrishna said that after the state-wide inspections conducted in 35 chit fund companies including Margadarsi Chit Funds Pvt Ltd, in the last three days revealed large-scale financial irregularities. Addressing the media on Monday, Ramakrishna revealed money collected from