Vijayawada: Gadireddy Yuri Reddy filed a special leave petition in the Supreme Court against Margadarsi Chit Fund Private Limited chairman Ramoji Rao and managing director Sailaja seeking justice on Saturday in New Delhi.
Yuri Reddy, who is the son of Gadireddy Janardhan Reddy, the co-founder of MCFPL, alleged in his complaint that their signatures were forged and their 288 shares in MCFPL were wrongfully transferred to Sailaja Reddy. He said that because they were cheated, they needed justice.
Earlier, AP CID booked a case against the MCFPL’s chairman, managing director, and others on illegal practices being adopted to carry out chit-fund business. However, the MCFPL chairman and MD moved the AP HC against the case and obtained a stay order to proceed further in the case for a period of eight weeks in October.
