Naidu has quid pro quo with Ramoji, says ex-MP Arun

VISAKHAPATNAM: Former MP, Vundavalli Arun, has alleged that Ramoji Rao is having a quid pro quo with TD national president  Nara Chandrababu Naidu.
Addressing a meeting on Margadarsi in Vijayawada on Sunday, Arun said the business of Margadarsi Chit Funds (MCFPL) is shrouded in secrecy.

“It kept to itself all information related to public deposits held by it illegally for close to two decades.”

“Without revealing the deposits, Margadarsi maintained secrecy for 17 years. It was the Supreme Court that ordered revelation of details of all these deposits,’’ the former parliamentarian said.

He said the company had attempted to silence him by filing a defamation suit after he spoke out against the scandal. Some people with vested interests had even said Ramoji Rao had nothing to do with MCFPL. But no one reacted to the “propaganda unleashed by those looking to protect the company from its wrongdoings,” he said.

Arun said Ramoji Rao began showering praise on the Telangana government through his media due to a fear that the government would file an affidavit against MCFPL in the Telangana high court.

“Unfortunately, chartered accountants are holding meetings and expressing solidarity with the company,” he said.

Chartered accountant M Nagarjuna Reddy, senior advocate Satyanarayana Prasad and Swarnandhra magazine editor KBG Tilak spoke.