The Andhra Pradesh High Court today gave a huge relief to media baron Ramoji Rao. The court issued a stay on the fresh FIR filed by the AP CID against the Chairman of Eenadu and Margadarsi groups and his daughter-in-law Sailaja Kiran.
The Police have filed a FIR against Ramoji Rao and Sailaja Kian based on the complaint given by Gadireddy Uri Reddy, son of the late Gadireddy Jagannadha Reddy, popularly known as GJ Reddy. According to the complaint, GJ Reddy lent Rs. 5,000 to Ramoji Rao with which Margadarshi Chit Funds was started and in return, Ramoji Rao was given 80 shares of the company.
Those 80 shares later became 280 shares revealed Uri Reddy. He told the officials that Ramoji Rao made him sign blank papers at gunpoint with which Ramoji Rao transferred the 288 shares from his father’s name to the name of Sailaja Kiran. Uri Reddy told the CID officials that he tried to contact Ramoji Rao to settle the due amount but that didn’t happen.
Now, based on the FIR filed by AP CID officials, Ramoji Rao filed a quash petition and the court issued a stay order on the FIR.
