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The Andhra Pradesh government has once again issued orders to attach the properties of Margadarsi Chit Fund Private Limited on Thursday.
The state government has issued orders to attach movable assets worth Rs 242 crore of Margadarsi.
Previously, the government had already attached Rs 793 crore of Margadarsi Chit Funds.
In the financial misappropriation cases, the Andhra Pradesh CID has named Margadarsi chairman Cherukuri Ramoji Rao and his daughter-in-law, Margadarsi managing director Sailaja Kiran, as A1 and A2, respectively.
During the investigation into the financial irregularities at Margadarsi, the CID found evidence of funds being diverted from Margadarsi to other activities.
The CID officials have questioned both Ramoji Rao and Sailaja Kiran regarding the diversion of public deposits from Margadarsi to other investments.
It is likely that the CID officials will question Ramoji Rao and Sailaja Kiran once again.
