The Andhra Pradesh Crime Investigation Department (AP CID) has accused Sailaja Kiron, managing director of Margadarsi Chit Fund Private Limited (MCFPL), of not cooperating with the investigation into the alleged irregularities in the company.
Addressing the media at the Secretariat, near here, on June 7 (Wednesday), CID IG Ch. Srikanth and Additional Superintendent of Police Ravi Kumar said the department was investigating into several irregularities, including the alleged diversion of the subscribers’ money into the mutual funds.
Denying media reports that the CID was harassing Ms. Sailaja Kiron and company chairman Ch. Ramoji Rao, the Additional Superintendent of Police said, “The CID is not defaming Margadarsi or its associated organisations. We are only doing investigation as per merits. The investigation officers are giving due respect to the accused while questioning.”
