Gadireddy Yuri Reddy filed a special leave petition in the Supreme Court against Margadarsi Chit Fund Private Limited chairman Ramoji Rao and managing director Sailaja, seeking justice on Saturday in New Delhi.
Yuri Reddy, the son of Gadireddy Janardhan Reddy, the co-founder of MCFPL, alleged in his complaint that their signatures were forged, and their 288 shares in MCFPL were wrongfully transferred to Sailaja. He stated that they were cheated and needed justice.
Earlier, the AP CID had filed a case against MCFPL's chairman, managing director, and others for illegal practices in conducting chit-fund business.
However, the MCFPL chairman and MD moved the AP HC against the case and obtained a stay order, halting further proceedings in the case for a period of eight weeks in October.