Margadarsi Chit Fund Pvt Ltd (MCFPL) denied all the allegations made by the Andhra Pradesh Crime Investigation Department (CID), on Friday.
The CID was holding press conferences with a malicious intent and working with the sole agenda of tarnishing the image of the company and to create panic among the subscribers, the company said in a press release.
“The Government of AP through the CID Department has been campaigning to disseminate false information in the media so as to confuse the public and its subscribers particularly. The Government of AP in its haste issued three G.O.s, attaching the movable assets of the company, being fixed deposits and other investments made out of the profits earned by the company over 60 years and not a pie is out of the subscribers’ money,” MCFPL said.
