It appears noose is further tightening around the neck of 87-year-old media baron and Eenadu group chairman Ch Ramoji Rao in the alleged irregularities in Margadarsi Chit Funds Private Ltd case, which is being probed by the Crime Investigation Department of the Andhra Pradesh police.
On Thursday, the CID served fresh summons to Ramoji Rao, the chairman of Margdarsi group, asking him to appear before the investigating officer – Ch Ravi Kumar, deputy superintendent of police, CID, at his regional office in Guntur at 10.30 am on July 5.
The CID officer said the agency wants to question Ramoji Rao, the accused No. 1 in the Margadarsi Chit Funds fraud case, in order to facilitate a more thorough and effective investigation and to elicit more information in the case.
Apart from Ramoji Rao, summons were also issued to his daughter-in-law Ch Sailaja Kiron, who happens to be the managing director of the company and also A-2 in the case; besides, G Sivarama Krishna, branch manager of Margadarsi Chit Funds’ branch at Arundalpet in Guntur town.
The CID authorities said they would like to question all the three together, collectively and simultaneously at the same location.
Earlier, the CID authorities had questioned Ramoji Rao and Sailaja Kiron at their respective residences in Hyderabad. The CID additional director general N Sanjay said both Ramoji and Sailaja had not given satisfactory answers to their questions.
There are indications that the CID may use its discretion to arrest Ramoji Rao and Sailaja soon after the interrogation on July 5. If it happens, it will be a big blow to the reputation of Eenadu in general and Ramoji Rao in particular.
It remains to be seen whether the media baron would move the court to seek anticipatory bail in the case. The CID chief already declared Margadarsi Chit Funds case as one of the biggest financial frauds of the state.
