Undavalli Arun Kumar is happy that the case against Margadarsi Chit Funds is coming up in Supreme Court. He had filed a petition in the Supreme Court challenging the Telangana high court decision and requesting for reopening of the case regarding Margadarsi chit funds violations.
Arun Kumar said that the Andhra Pradesh government had filed an implead petition in the case, which, he said was a welcome move.
The former MP said that the Telangana State government too should file an implead petition in the Supreme Court and be a party to the case.
The soft-spoken Undavalli said that Ramoji Rao, who runs the Margadarsi Chit Fund company had violated the rules of the Reserve Bank of India and mobilised deposits from the people, which is punishable.
Arun Kumar expressed confidence that the guilty will be punished in the case, though he was not wishing for the arrest of Ramoji Rao. Undavalli has been chasing Ramoji Rao for a long time and could not win the case in High Court.
Now the issue is coming up in the Supreme Court and the AP Government is also fighting against Ramoji Rao. Undvalli wants KCR also to fight against Ramoji.
