Vijayawada court summons seven accused in Margadarsi chit fund scam

Vijayawada: The first additional district sessions court in Guntur summoned seven suspects in the Margadarsi chit fund fraud to appear for a hearing in a criminal defamation complaint filed by the APCID for defaming it by publishing a disparaging and venomous article in Eenadu on April 13, 2023.

On Thursday, additional advocate general Ponnavolu Sudhakar Reddy told media that the court summoned accused Ch. Ramoji Rao, Ch. Kiran, Ch. Sailaja Kiran, Nannapaneni Viswa Prasad, Narasimha Reddy, K. Srinivas and Ushodaya Enterprises.

He stated that during a routine check, the chit fund registrars discovered a series of violations by the Margadarsi Chit Fund Private Limited in compliance with relevant laws dealing with chit fund business and filed cases against Ramoji Rao and Sailaja Kiran, as well as others, and arrested the foremen.As a result, the Eenadu newspaper published a defamatory story about the APCID, prompting the filing of a criminal defamation action in Guntur, which was later transferred to the first additional district sessions court.