Cherukuri Ramoji Rao, the chairman of Eenadu and Margadarsi groups, had written so much about Margadarsi in his Eenadu paper. Just because he owns a paper, he can deny the charges against him, and give his own explanation.
He had been doing the same whenever the CID issued notices or filed cases against him or even conducted searches in his companies. Likewise, he wrote two articles on Wednesday in his Eenadu paper, about the charges made by Gadireddi Yuri Reddy, son of late Gadireddi Jagannadha Reddy, more popular as G J Reddy.
Surprisingly, he did not give the press conference details of Yuri Reddy on how the G J Reddy’s shares were transferred to Margadarsi MD Sailaja Kiran. He gave his own version to whatever Yuri Reddy told the media. It was a clear narrative with comments from Eenadu group and not what Yuri Reddy said.
There was another story again, where Ramoji Rao tried to explain everything in his favour. He justified everything that happened in between him and Yuri Reddy in 2016.
But the facts are such that G J Reddy had given Rs 5000 to Ramoji Rao in 1960 to start Margadarsi Chit Fund Private Limited. In return, Ramoji Rao gave 80 shares to G J Reddy. These shares, over the years, have gone up to 288 shares.
These are facts and neither Yuri Reddy nor Ramoji Rao are denying. The contention is that G J Reddy’s shares were transferred to Sailaja Kiran. While Yuri Reddy says that Ramoji Rao took his signatures on empty papers at the gun point, Ramoji Rao says that Yuri Reddy had given the authorization on his own.
Given Ramoji Rao’s style of operations, no one will buy his lies that the transfer of shares from G J Reddy to Sailaja Kiran were done duly following the rules. He says he is above the law of the land and must have surely threatened Yuri Reddy.
