The media baron and chairman of Eenadu group, Ch Ramoji Rao, is facing increasing scrutiny in relation to alleged irregularities in Margadarsi Chit Funds Private Ltd. The Crime Investigation Department (CID) of Andhra Pradesh has served fresh summons to Rao, requesting his appearance before the investigating officer on July 5.
The CID aims to question Rao, who is the primary accused in the case, to gather further information and aid in a comprehensive investigation. Summons have also been issued to Rao’s daughter-in-law, Ch Sailaja Kiron, who serves as the company’s managing director and is a co-accused, as well as G Sivarama Krishna, the branch manager of Margadarsi Chit Funds in Guntur.
The CID intends to conduct a joint interrogation of all three individuals at the same location. Earlier, the CID had questioned Rao and Sailaja at their respective residences in Hyderabad, but their responses were deemed unsatisfactory. There are indications that the CID may exercise its discretion to arrest Rao and Sailaja after the scheduled interrogation on July 5.
Such an outcome would have a significant impact on the reputation of Eenadu and Ramoji Rao. It remains to be seen whether Rao will approach the court for anticipatory bail. The CID has already declared the Margadarsi Chit Funds case as one of the largest financial frauds in the state.