Ramoji Rao grilled in Hyderabad for over 8 hours
VIJAYAWADA: Officials of the Andhra Pradesh Crime Investigation Department (APCID) on Monday quizzed the chairman of Margadarsi Chit Fund Private Limited (MCFPL), Cherukuri Ramoji Rao, in the alleged chit fund scam at his residence in Jubilee Hills, Hyderabad.
Four teams, comprising around 20 officials, headed by SP Amit Bardar questioned him for more than eight hours.
It may be recalled that CID had served notices to Ramoji Rao and his daughter-in-law Ch Sailaja, who is also the managing director of MCFPL, under CrPC Section 160.
They were asked to be available for examination in the alleged scam at their residence or office on any of the four days —March 29, 31 or April 3 or 6—and cooperate with the investigation.
Based on Ramoji Rao’s response, CID officials visited his house on Monday. In the second round of questioning, scheduled to be conducted on April 6, the sleuths will quiz Sailaja.
Amit Bardar told reporters that the prime accused, Ramoji Rao, had informed the CID officials that he was ill. “However, after a medical checkup, it was learnt that he was trying to evade the probe,” the SP added.
Ramoji Rao evaded most of the questions: Sources
Following the doctor’s clearance, we proceeded with the questioning, he said. Based on information obtained from the chartered accountant, Kudaravalli Shravan, who was arrested recently, officials mostly questioned the media baron on the financial irregularities noticed in MCFPL, Amit Bardar explained.
“Ramoji Rao was questioned pertaining to one case registered against him in connection with the multi-crore scam. Based on complaints from various district registrars of the Stamps and Registration Department, seven cases were registered against Ramoji Rao, Sailaja and foremen of MCFPL. In his statement, Shravan had confessed that he had certified annual financial statements without verifying branch-level statements and had skipped the process of auditing,” the SP stated.
It was also learnt that CID officials sought an explanation from Ramoji Rao on why cheque power was not given to foreman, which is a violation of The Chit Funds Act, and how it was transferred to 11 board members, including Sailaja.
“The MCFPL chairman was asked if he had committed the violation intentionally. He did not cooperate with the probe and gave evasive answers to most of the questions,” CID sources said. Meanwhile, incriminating evidence and documents related to Margadarsi were seized. “If needed, Ramoji Rao will be questioned again,” SP Amit Bardar added.