TDP Owned Ramoji Rao, Undavalli Happy!

Former MP Undavalli Arun Kumar vowed to continue his crusade against the Margadarsi Chits. He acknowledged that the YCP government’s affidavit regarding the same case in the Supreme Court was a shot in the arm which he believes would certainly help him reach the logical end.

He said that he does not have any personal enmity with Margadarsi Chits chairman Ramoji Rao, who also owns the Eenadu Group. “I am just questioning about the irregularities in the operations of the organisation,” he said.

The former MP’s statements against Ramoji Rao and TDP boss N. Chandrababu Naidu sent indications that he was supporting Chief Minister Y.S. Jagan Mohan Reddy. This political leaning towards a particular party by Undavalli, who claims that he had voluntarily retired from active politics, received a mixed response from the public. While some felt that it was not fair on the part of the ex-MP to take sides even while claiming that he does not have any special favour towards any political party, a few felt that he could openly declare his support to Jagan, as he was the son of his mentor, late Y.S. Rajasekhara Reddy.

Political analysts said that Undavalli, during his press meet, hinted several times that Ramoji Rao was involved in some illegal activities like money laundering in the name of Margadarsi Chits. The ex-MP asked why were TDP leaders Adireddy Appa Rao and his son Adireddy Srinivas lodged in prison while Ramoji Rao was exempted from being arrested and put in prison. The father-son duo were arrested on charges of not following the AP Chits Act while running their chit business. It is said that all are equal before the law and in that case, the Adireddys should also be given bail and allowed to move freely, Arun Kumar said.

He also said that he was happy that the TDP owned Ramoji Rao now as the party national spokesperson GV Reddy sent him correspondence that he was ready for a debate on Margadarsi Chits functioning and its operations. “In the coming days, it is likely that Margadarsi could become a political issue upon which parties would fight the upcoming polls,” he said.

Arun Kumar said that irregularities in Margadarsi came into the public during the 1980s and that for the last 17 years he had been pursuing the legal battle against the organization. He said that he has not won the case yet as the court just asked the Margadarsi representatives to submit the details of all the 2.30 lakh depositors during the next hearing scheduled in July.

The case has to go a long way but I am happy that Jagan’s affidavit will give an impetus to the case. Now, there will be huge funding which will bring in reputed lawyers to fight for the case. So far, I only argued in favour of the case, he said.

Further, he claimed that he was determined to fight against Margadarsi as it would put an end to all the chit companies which ‘have been cheating the people’. If action is taken irrespective of an individual’s political or social clout, then others would definitely fear to tread the same path, he added.