Andhra Pradesh High Court. (File Photo)
Andhra Pradesh High Court. (File Photo)

Orders reserved on chit firm plea

Advocate General S Sriram informed the court that the searches were conducted as Margadarsi was not adhering to the rules.

VIJAYAWADA: The Andhra Pradesh High Court reserved its orders on the supplementary petitions filed by Margadarsi Chit Fund Private Limited, which approached the court earlier seeking directions to the government agencies not to impose any penalties on it. It was filed following the raids conducted by the stamps and registrations department on the firm.

Advocate General S Sriram informed the court that the searches were conducted as Margadarsi was not adhering to the rules. Petitioner’s counsel B Adinarayana Rao said the authorities were not working in accordance with the law.

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