 | Margadarsi Chit Fund scam: Over 800 subscribers in Andhra Pradesh lost Rs 100 croreAccusing the company of operating ghost subscribers and keeping the money to itself, APCID Additional Director General of Police (ADGP) N Sanjay said 40 per cent of chit groups have no subscribers. |
 | Margadarsi Chirala branch manager held for forgery in Andhra PradeshBapatla district Superintendent of Police Vakul Jindal informed that prima facie evidence was collected against the accused, and the arrested was produced in court. |
 | Telangana High Court refuses to grant interim relief to Margadarsi Chit Fund Private LimitedThe court gave verbal instructions to the AP CID not to disclose the details of the case to the media and questioned the agency as to why it was holding a press meeting to disclose the case details. |
 | APCID unearths fresh irregularities in MCFPLAPCID chief N Sanjay pointed out that MCFPL flouted The Chit Funds Act and other rules by adding default and ghost subscribers into active chits. |
 | Andhra Pradesh CID continues searches at offices of Margadarsi for second consecutive dayThe teams from three departments reportedly examined customer records, old and closed chit agreements, electronic documents and other records pertaining to financial transactions. |
 | Andhra Pradesh High Court stays Registrar of Chits’ public noticeThe court said the pleas filed by subscribers challenging the closure of chit groups would be merged with the one filed by the Margadarsi Chit Fund Private Limited management. |
 | Chit registrars can act on anomalies: Andhra Pradesh AGWith regard to the Prakasam district chit groups case, the AG said the order for closure was given before the public notice was issued. |
 | Margadarsi describes public notice of Registrar of Chits as imaginaryA detailed counter was given by the firm to the seven allegations made against it in the public notice. |
 | Case booked against MCFPL branch, manager heldThe complainant further alleged that the MCFPL branch committed irregularities by operating the chit with 30 members instead of 50. |
 | MCFPL case transfer plea: Supreme Court judge recusesThe AP government had contended that even if it is held that a small part of the cause of action may arise in Telangana , the vast majority of cause of action arises in AP. |
 | MCFPL case: Notices sent to subscribers who made cash deposits of over Rs 1 croreOn its part, MCFPL assured its subscribers that they have not violated any provisions of the Income Tax Act or RBI guidelines. |
 | Telangana HC notice to Andhra Pradesh govt on MCFPL caseThe counsel for the petitioner further claimed that the Supreme Court had often condemned the practice of investigative officers disclosing facts discovered during investigations to the media. |
 | Andhra Pradesh govt allows CID to attach Margadarsi’s movable properties worth Rs 242 croreThe State government issued GO 116 on Thursday, authorising the attachment of the financial assets identified by the CID during the course of the investigation. |
 | CID to quiz Margadarsi Chairman, MD again for alleged irregularitiesShe has not given answers to some of our queries during the investigation and even tried to avoid questioning. |
| CID questions Margadarsi MD for 10 hours in HyderabadAccording to sources, the CID sought to know as to where the money collected from depositors was diverted. |
 | SC to hear on July 18 A.P.'s transfer plea of Margadarsi Chit case petitionsThe State wants writ petitions concerning irregularities alleged against Margadarsi Chit Funds transferred from Telangana to Andhra Pradesh High Court. |
 | No Look Out Circulars against Sailaja, Telangana HC toldCounsel for Sailaja told the court that it was believed that the State Government had written to the Centre requesting an LOC against her clients |
