Margadarsi Auditor Arrested, Sent To Remand

[Anta Assamey]

In a swift move, the Andhra Pradesh CID police arrested Margadarsi Chit Fund Private Limited's accountant and auditor, Kudaravalli Shravan, on Thursday on charges of financial irregularities.

He was produced in the third additional chief metropolitan magistrate court and was sent to 14 days of judicial remand.

Earlier in the week, the CID had sent notices to Cherukuri Ramoji Rao and Cherukuri Sailaja to be present at the CID office in Mangalagiri for questioning.

Both Ramoji Rao and Sailaja were booked by the CID as A1 and A2 in the financial mismanagement in the Margadarsi.

The CID officials said that Shravan had admitted that he had not done due diligence in verifying branch-level financial statements or bank statements before certifying the financial statements of the Margadarsi.

It has also been found that principles of auditing were conveniently ignored at various levels by Shravan, especially when it comes to financial statements of bank balances - both current and fixed deposits.

The CID is investigating the charges of non-payment of monthly subscriptions/instalments in respect of multiple tickets held in the name of the Margadarsi, which were later substituted with new subscribers.

The CID is also probing the charge that Margadarsi was illegally diverting the amounts deposited by the chit subscribers towards mutual funds, etc., to enable huge and unauthorized investments into speculation markets.

The company was transferring the future subscription amount to the Corporate Office Account and, in turn, issuing a "receipt" carrying interest at the rate of 4 to 5 per cent in the name of the subscriber, they said.

The company is also being investigated for its non-disclosure of revenue and expenditure accounts and statements of assets and liabilities and details of investment as per Rule 28 (read with Section 24 of the Chit Fund Act), the CID said.

[halwa_fan]

okay, ee sravan gadu scapegoat ankunta to save dramoji

[Vaampire]

5 minutes ago, halwa_fan said:

okay, ee sravan gadu scapegoat ankunta to save dramoji

We will know. If dramoji makes it big news then its not the case. If dramoji keeps silent or low sound, this guy is scapegoat

[Anta Assamey]

4 minutes ago, Vaampire said:

We will know. If dramoji makes it big news then its not the case. If dramoji keeps silent or low sound, this guy is scapegoat

I think Ramoji will use his clout in Delhi to get out of it...

[futureofandhra]

ilanti chinna fishes kadhu 

cbn ni arrest cheyali dammuntey 

too boring ee pilla cases 

skill development case lo book chesthey sey avutadhi kadha cbn ni 

[csrcsr]

9 minutes ago, futureofandhra said:

ilanti chinna fishes kadhu 

cbn ni arrest cheyali dammuntey 

too boring ee pilla cases 

skill development case lo book chesthey sey avutadhi kadha cbn ni 

Andaru antu unte emo anukuna 

[Anta Assamey]

13 minutes ago, futureofandhra said:

ilanti chinna fishes kadhu 

cbn ni arrest cheyali dammuntey 

too boring ee pilla cases 

skill development case lo book chesthey sey avutadhi kadha cbn ni 

I think the plan to get CBN some notices before the elections so that he is on the backfoot... but I don't think they will go for arrest...

[futureofandhra]

Just now, Anta Assamey said:

I think the plan to get CBN some notices before the elections so that he is on the backfoot... but I don't think they will go for arrest...

arrest chesthey ne ga jagananna power ento telisedhi 

pulivendula puli 

[Vaampire]

1 hour ago, Anta Assamey said:

I think Ramoji will use his clout in Delhi to get out of it...

Without a doubt. He has media presence in close to 10 states which more or less act as pro bjp. Kallu pattukono edo okkati chesi thappinchukuntadu

[Vaampire]

6 minutes ago, Anta Assamey said:

I think the plan to get CBN some notices before the elections so that he is on the backfoot... but I don't think they will go for arrest...

Cbn ni evvadu em peekaledhu. Chesedhi penta aina pakka planning tho chesthadu. 
 

if my guess is correct, we can expect more & more attacks on dramoji in next 1 yr which will keep eenadu busy in covering up on main page and all tdp pro articles will go to middle pages. 

[Anta Assamey]

1 minute ago, Vaampire said:

Cbn ni evvadu em peekaledhu. Chesedhi penta aina pakka planning tho chesthadu. 
 

if my guess is correct, we can expect more & more attacks on dramoji in next 1 yr which will keep eenadu busy in covering up on main page and all tdp pro articles will go to middle pages. 

Next 1 year manchi entertainment untundi AP and TG lo ...

[Android_Halwa]

9 minutes ago, Anta Assamey said:

I think the plan to get CBN some notices before the elections so that he is on the backfoot... but I don't think they will go for arrest...

Skill development case la CBN and Lokesh…

CRDA case lo CBN and Narayana

next 2-3 months la notices and enquiry…unless they come to terms.

[AndhraneedSCS]

4 minutes ago, Vaampire said:

Cbn ni evvadu em peekaledhu. Chesedhi penta aina pakka planning tho chesthadu. 
 

if my guess is correct, we can expect more & more attacks on dramoji in next 1 yr which will keep eenadu busy in covering up on main page and all tdp pro articles will go to middle pages. 

eenadu probably wont even cover that in the daily. They wont make any news out of themselves 

[Anta Assamey]

8 minutes ago, Android_Halwa said:

Skill development case la CBN and Lokesh…

CRDA case lo CBN and Narayana

next 2-3 months la notices and enquiry…unless they come to terms.

Jagan Anna evaritho terms ki raadu.... Only WAR...

[ARYA]

intaki enti ee margadarsi conecpt? @Anta Assamey