Tadepalli: The YSR Congress Party (YSRCP) has called for a comprehensive investigation into the Margadarsi Chit Fund scam, stressing the need for justice and accountability. Former Minister Ambati Rambabu addressed the media at the party’s central office on Sunday, highlighting the long history of alleged illegal activities by Margadarsi under the leadership of Ramoji Rao.
Rambabu accused Ramoji Rao of using his media influence to build an empire rooted in corruption, violating multiple laws, and collecting unauthorized deposits from the public for nearly five decades. He criticized current Chief Minister Chandrababu Naidu for failing to take action against Ramoji Rao, allowing him to continue his activities with impunity.
The former minister praised former MP Undavalli Arun Kumar for initially exposing Margadarsi’s illegal deposits in 2006, leading to years of legal battles. He noted that the Supreme Court had ordered a reinvestigation into the matter, with the Reserve Bank of India recently confirming the illegality of Margadarsi’s deposits. Rambabu warned that those involved, including Margadarsi’s directors, would face trial and punishment if found guilty.
