Media baron Ramoji Rao, who started the Eenadu Paper is known for the legacy he set up in the media industry.After Eenadu, he started ETV which is available in all the Indian languages.
His legacy in the media world is more than four long decades.
The octogenarian entered the Chit Fund area with Margadarsi.
However many allegations are raised against the Margadarsi Chit Funds which created a controversy.The episode is seen as a black mark in his history.
However, he did not face any issues no matter who is in power in the combined state.Even when YSR was in power, Congress could not do anything.
YSR’s son YS Jagan Mohan Reddy is the Chief Minister now and achieved what other CMs could not do.He is very close to making Ramoji Rao appear before the CID officers for questioning in the alleged irregularities in Margadarsi Chit Funds.The Investigating officers already served notices to Ramoji Rao and his daughter-in-law, Sailaja Kiran, the company’s Managing Director.
In the notice, the investigating officers are said to have directed them to be available on either March 29, March 31, April 3, or April 6 for the questioning.
This is the first time Ramoji Rao faced notice in the Margadarsi Chit Fund Row.
Margadarsi is accused of diverting the funds to other areas which is a violation of the rules.People knew about the alleged scam when former MP Undavalli Arun Kumar moved the court.He even knocked on the doors of the Supreme Court.
The Andhra Pradesh government is very adamant about the case and a CID case was also filed.The officers carried out searches in the offices of Margadarsi in a few areas.
A First Information Report (FIR) was also registered against Ramoji Rao, his daughter-in-law, and a few branches of Margadarsi.Though Undavalli Arun Kumar has been fighting the case for quite some time, there is no support for him from the government.
The Jagan government took the margadarsi case serious, when Eenadu group started publishing Jagan’s failures in administration.
