Don’t take coercive steps against Margadarsi: Telangana HC to AP CID

HYDERABAD: Justice K. Surender of the Telangana High Court on Tuesday directed the Andhra Pradesh CID department not to take any coercive steps against Ch. Ramoji Rao, chairman of Margadarsi Chit Fund Pvt Ltd and Ch. Sailaja, managing director of Margadarsi Chit Funds, in relation to crimes registered in Andhra Pradesh regarding complaints against the chit fund firm.

The Court issued these orders in the petitions filed by Ramoji Rao and Sailaja, who filed separate petitions seeking the High Court to restrain the CID of Andhra Pradesh not to take steps against them.

Making clear the jurisdiction issue of how Telangana High Court can issue orders against the cases registered in Andhra Pradesh, the Judge said that the head office of the Margadarsi Chit Funds Pvt Ltd is in Hyderabad. On behalf of the petitioners, senior counsel Siddarth Luthra, Dammalapati Srinivas and Vimal Varma Vasidreddy submitted their arguments.