VIJAYAWADA: The Andhra Pradesh High Court on Tuesday posted the hearing on the petitions filed by Margadarsi Chit Fund Private Limited (MCFPL) Chairman Cherukuri Ramoji Rao and Managing Director Sailaja Kiran seeking to quash the FIR registered against them by the APCID to Wednesday.
The CID filed the FIR based on a complaint lodged by Gadireddi Yuri Reddi, son of Dr Jagannadha Reddi Gadireddi, who is a shareholder in Margadarsi, alleging that Ramoji Rao got his shares transferred on the name of Sailaja Kiran by threatening him at gunpoint and forging documents. Ramoji Rao was named accused No 1 in the case, while Sailaja Kiran was accused No 2. Both of them filed two separate petitions seeking to quash the FIR registered against them.
Supreme Court lawyer Sidharth Luthra and High Court senior advocate Posani Venkateswarlu appeared on behalf of the petitioners. Special Public Prosecutor Y Sivakalpana Reddy argued on behalf of the CID.
Sidharth Luthra informed the court that the State government had been harassing the petitioners for the past four years by registering various cases and the case was a fresh one. Sivakalpana Reddy sought time till Thursday to place the documents pertaining to the case before the court.
Intervening, Sidharth Luthra said there was a possibility of the petitioners being arrested by the investigating agency before the petitions come up for hearing. Venkateswarlu sought directions to the CID not to take any coercive action against the petitioners.
Justice BVLN Chakravarthi sought to know from Sivakalpana Reddy whether the CID was going to take any action against the petitioners before Thursday. Sivakalpana Reddy informed the court that there was no need to pass any orders. Justice Chakravarthi said the matter would be posted to afternoon for hearing or else to Thursday, if the probe agency would not take any coercive action against the petitioners. With Sivakalpana Reddy informing that they would not take any action, the court recorded the same and posted the matter for hearing to Wednesday.