VIJAYAWADA: Continuing its investigation into the alleged multi-crore scam of Margadarsi Chit Fund Private Limited (MCFPL), AP CID carried out surprise inspections at 37 branches of the company in the State on Saturday.
According to an official release from CID chief N Sanjay, the CID teams conducted searches at the branches of Margadarsi in all the major cities and towns in the State. The teams reportedly found irregularities in the bank statements and collected the records from the offices.
The searches were conducted at Margadarsi branches in Srikakulam, Vizianagaram, Visakhapatnam, Kakinada, Rajahmundry, Amalapuram, Mandapeta, Samalkot, Eluru, Tanuku, Machilipatnam, Gudivada, Vijayawada, Guntur, Tenali, Narasaraopet, Ongole, Chirala, Nellore, Kadapa, Chittoor, Tirupati, Kurnool and Anantapur. In major cities, the searches were conducted at more than two branches of Margadarsi. “Investigation into the violations found in the records will be continued,” said Sanjay.
Earlier in the week, the CID examined seven authorised signatories of the company as part of the probe and stated that the response from the key functionaries of Margadarsi was evasive.
It may be recalled that the CID registered seven FIRs against MCFPL chairman Cherukuri Ramoji Rao, his daughter-in-law and MD Cherukuri Sailaja and other branch heads following complaints from the assistant registrars of the Stamps and Registration Department.