Ramoji appears before Nampalli court

Ramoji appears before Nampalli court in Margadarsi case

Hyderabad, Aug 4 :-

  The media baron and Margadarsi chairman, Mr Ramoji Rao, on Tuesday appeared before the Nampalli court here in connection with the Margadarsi Financiers case.

Mr Ramoji Rao is facing the charge of his Margadarsi Financiers collecting huge amount of deposits in violation of the Reserve Bank of India (RBI) rules. He, however, sought the court permission to exempt him from personal appearance as he has to look after several business aspects.

Instead, he wanted his counsels to appear before the court in the case. But the Nampalli court had rejected the appeal on his personal appearance following which he moved the Andhra Pradesh High Court which too has turned down his plea and upheld the lower court order.

He has thus appeared before the Nampalli court on Tuesday and the court has adjourned the case to September 15 for further hearing on the Margadarsi case.