AP CID summons Margadarsi Chit Fund MD Sailaja
The Hindu
Andhra Pradesh CID, which is investigating allegations on funds misuse by Margadarsi Chit Fund has summoned its MD Ch. Sailaja Kiron
In a fresh development, the Andhra Pradesh Crime Investigation Department authorities have summoned the Margadarsi Chit Fund Private Ltd Managing Director Cherukuri Sailaja, over the alleged violations in doing their business.
While serving a notice under section 160 of Cr.P.C, dated on March 27, Ch. Ravi Kumar, Deputy Superintendent of Police, AP CID, Guntur, informed Ms. Sailaja that he needs to examine her.
The Dy. SP of CID said, “For effective investigation and to arrive at a better conclusion, I, being the Investigation Officer of this crime, feel that your examination is just and necessary”.
He requested Ms. Sailaja to make herself available at her place of residence or office on March 29 or March 31 or April 3 or April 6 and cooperate for the investigation. The Investigation Officer further requested her to inform any one of the convenient day out of these four dates and the place well in advance to the office of AP CID, Guntur.
The AP CID has booked a case against the Margadarsi Chit Fund under Cr. No. 3/2023, under sections 420, 409, 120-B, 477(a) read with 34 IPC, Section 5 of AP protection of Depositors Financial Establishment Act, 199 and Section 76, 79 of Chit Fund Act, 1982 of CID Police Station, Mangalagiri.
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