Senior counsel Dammalapati Srinivas and Vimal Varma Vasireddy argued that in the guise of the investigation, CID authorities were refraining customers of the chit fund company to make payments and threatening them to take back the money deposited in the company.
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Hyderabad: The vacation bench of the Telangana High Court on Thursday issued notices to the CID of Andhra Pradesh and commissioner and inspector general of registration and stamps, Andhra Pradesh, in a petition filed by Margadarsi Chit Funds Pvt Ltd which alleged that the said authorities were interfering in its day-to-day business in the name of investigation.
Senior counsel Dammalapati Srinivas and Vimal Varma Vasireddy argued that in the guise of the investigation, CID authorities were refraining customers of the chit fund company to make payments and threatening them to take back the money deposited in the company.
Justice Mummineni Sudheer Kumar directed counsel for the AP government to submit the reply to the allegations leveled against them. The case was adjourned to May 11.
