The Telangana High Court on Friday reserved orders in an interim application filed by Margadarsi Financiers seeking to stall criminal proceedings against its proprietor Ch. Ramoji Rao following his demise.
The interim application was filed in a criminal petition filed earlier by Ramoji Rao and Margadarsi Financiers seeking a direction to quash a case on the file of First Additional Chief Metropolitan Magistrate of Hyderabad pertaining to alleged illegal collection of deposits by Margadari Chit Funds. Through the interim application, the Margadarsi requested the HC to drop the case against Mr. Rao as he passed away.
The petitioner’s counsel contended that criminal proceedings cannot be continued against Mr. Rao since he died. The bench of Justices P. Sam Koshy and K. Sujana heard contentions of the counsels of the petitioners, former MP Undavallil Arun Kumar, who got impleaded in the matter, the counsels of the governments of Andhra Pradesh and Telangana and the Reserve Bank of India before reserving orders in the interim application.
Published - March 08, 2025 07:06 pm IST
