Andhra Pradesh High Court says no to searches at Margadarsi offices till it delivers judgment
The Hindu
HC instructs CID to refrain from searching offices of Margadarsi Chit Funds Private Ltd. till verdict is delivered on alleged irregularities. Single judge imposed interim stay on winding up of chit fund groups, yet to deliver judgment.
Andhra Pradesh High Court on August 21 (Monday) issued an oral instruction to the special government pleader, who was appearing for the State in the case pertaining to alleged irregularities involving Margadarsi Chit Funds Private Limited, to inform the CID to refrain from searching the offices of the company till it delivers its verdict on the matter.
According to an official source, the court was hearing an interim application filed by Margadarsi Chit Fund Private Limited against the entry of CID sleuths into the company’s offices at various locations and questioning of its staff when a single judge, who imposed an interim stay on the proposed winding up of the chit fund groups, is yet to deliver the judgment.
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