Margadarsi MD challenges lookout circular in Telangana HC
Margadarsi Chit Funds Pvt Ltd managing director Sailaja Cherukuri on Tuesday challenged a lookout circular issued against her by the Andhra Pradesh CID in the Telangana High Court.
Hyderabad: Margadarsi Chit Funds Pvt Ltd managing director Sailaja Cherukuri on Tuesday challenged a lookout circular issued against her by the Andhra Pradesh CID in the Telangana High Court.
Cherukuri, who is currently in the USA for her daughter’s graduation ceremony, is scheduled to arrive in Hyderabad on June 3. Apprehensive of stringent coercive action upon her arrival in the city, she requested the court to direct the CID not to create hurdles for her upon her arrival.
The petitioner submitted to the court that she has been cooperating with an ongoing investigation by the CID in connection with crimes registered against M/s Margadarsi Chit Funds Pvt Ltd.
Further, Cherukuri also submitted that she had informed the CID about her non-availability in May well in advance. To augment her submission, she brought to the notice of the court that the CID officials previously informed her about visiting her residence on June 6 to question her.
She said that in the interim, she came to know about the lookout circular and that the CID was waiting to take further action against her immediately upon her arrival in the country. Pointing to the lookout circular, she said that a DSP-rank officer did not have the authority to issue one and that only an SP-level officer could do so.
The Telangana High Court will hear the case on June 1.
