Former MP, Undavalli Arun Kumar, on Monday thanked Chief Minister Y S Jagan Mohan Reddy for filing implead petition in Margadarsi Chit Fund company case.
The case is coming up for hearing in the Supreme Court on September 19, 2022, where in the Margadarsi is accused of collecting deposits from the people to the tune of Rs 2,600 crore.
The case was filed by Undavalli Arun Kumar in Telangana High Court during late Dr Y S Rajasekhar Reddy’s regime as chief minister.
However, the case was dismissed by the High Court days before the state was bifurcated in 2014, the former MP alleged.
Undavalli Arun Kumar said that the High Court had passed the judgment without even informing him, though he is a petitioner.
He said he had filed a petition in the Supreme Court challenging the Telangana high court decision and requesting for reopening of the case.
Arun Kumar said that the Andhra Pradesh government had filed an implead petition in the case, which, he said was a welcome move.
The former MP said that the Telangana State government too should file an implead petition in the Supreme Court and be a party to the case.
The former MP said that Cherukuri Ramoji Rao, who runs the Margadarsi Chit Fund company had violated the rules of the Reserve Bank of India and mobilised deposits from the people, which is punishable.
He expressed confidence that the guilty will be punished in the case, though he was not wishing for the arrest of Ramoji Rao.
“I am only looking for justice and not against any individual,” the former MP said in Rajamahendravaram on Monday.