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Vundavalli accuses Ramoji Rao of violating regulation


Revealed: Revealed Date – 06:10 PM, Mon – 7 November 22

Andhra Pradesh: Vundavalli accuses Ramoji Rao of violating law
(File Photograph) Former Member of Parliament Vundavalli Arun Kumar has accused Eenadu group chairman Ch. Ramoji Rao of violating regulation within the Margadarshi chit fund episode.

Rajahmundry: Former Member of Parliament Vundavalli Arun Kumar has accused Eenadu group chairman Ch. Ramoji Rao of violating regulation within the Margadarshi chit fund episode.

Speaking to reporters right here on Monday, he alleged that Ramoji Rao had signed the steadiness sheet of the chit fund firm within the capability of chairman even whereas stating that he had no connection by any means with the corporate.

“In line with the RBI Act, Margadarshi has no proper to gather deposits. Ramoji Rao, even whereas mentioning that he had nothing to do with Margadarshi chit fund firm, claimed possession of the chit fund firm within the affidavit submitted to the Supreme Courtroom. Beneath Sector 10, a coupon fund firm shouldn’t take pleasure in different companies. Ramoji Rao used the Margadarshi funds to different companies,” he said.



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