YSR Congress Party President and Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy holds a deep disdain for media mogul and Eenadu Group Chairman Ch Ramoji Rao, whom he refers to as part of the Dushta Chatushtayam (Gang of Four), for his perceived pro-Telugu Desam Party stance and anti-YSRCP stance.
Jagan has directed the Crime Investigation Department (CID) of the state police to target Margadarsi Chit Funds, a company under the Eenadu group's umbrella, in an effort to sever Ramoji Rao's financial roots.
At one point, Jagan nearly succeeded in having Ramoji Rao and his daughter-in-law Sailaja Kiran arrested in connection with the case, were it not for the court's intervention.
Presently, the issue is under the purview of a Telangana court, as directed by the Supreme Court.
The CID has issued numerous statements alleging Margadarsi's fraudulent practices, including cheating thousands of its customers and misappropriating funds. It has urged the public to beware of Ramoji Rao's purported deceitful activities.
Ironically, despite Jagan's portrayal of Ramoji Rao as a swindler and embezzler of public funds, one of Jagan's favored party leaders and Andhra Pradesh Tourism Minister R K Roja appears to have great confidence in Margadarsi Chit Funds, despite her boss's negative portrayal of the company.
In her election affidavit submitted to the Election Commission while filing her nomination papers for the Nagari assembly seat, Roja disclosed that she had invested Rs 39,21,210 in Margadarsi Chit Funds, in addition to Rs 32.90 lakh in another private chit funds company, Dhanalaxmi Srinivasan Chit Funds in Telangana.
“This clearly demonstrates Roja's significant trust in the safety and security of public deposits in Margadarsi Chit Funds, and suggests that Jagan is targeting Ramoji Rao purely for political reasons, following his anti-YSRCP stance,” an analyst remarked.
Meanwhile, Roja also revealed her fondness for new cars. In her affidavit, she stated that she owns 10 cars, including two Mahindra SUVs, a Toyota Innova Crysta, and a Mercedes Benz.
Roja's declared assets amount to Rs 10.69 crore, including movable assets worth Rs 4,58,43,501 and immovable properties worth Rs 6,05,71,529. These assets have increased by Rs 81 lakh compared to 2019.