The Andhra Pradesh CID had registered seven FIRs against MCFPL for alleged financial irregularities based on a complaint by the Commissioner and Inspector General (Registration and Stamps).
The Andhra Pradesh CID on Monday attached properties worth Rs 793 crore in the Margadarsi chit fund case. Earlier, the CID had filed cases against those involved in the chit fund case.
HYDERABAD: Margadarsi Chit Fund company faced a setback in the Telangana High Court on Wednesday when the Bench refused to issue orders to stop the CID from conducting raids on the chit fund company. Margadarsi challenged the ongoing raids at their offices in Hyderabad in the High Court. The High Court stated that they cannot issue any order to obstruct the CID searches.