Home » News » India » Margadarsi issue rocks AP Assembly
1-MIN READ

Margadarsi issue rocks AP Assembly

Margadarsi issue rocks AP Assembly

What started as an investigative news story has now emerged as a big tussle between the AP govt and Ramoji Rao.

Hyderabad: What started as an investigative news story has now emerged as a big tussle between the Andhra Pradesh government and media-baron Ramoji Rao.

Margadarsi controversy gained momentum on Thursday as there was pandemonium in the state Assembly.

While all parties moved an adjournment motion condemning the raids on Margadarsi Finance office of the Eenadu group, uproar prevailed on the house floor for hours together.

Finally, the Speaker adjourned the sessions till Friday morning. Taking the protest forward, opposition party leader Chandrababu Naidu met the Governor.

"The attack on Eenadu group is very unfair as it amounts to blackmail. They were threatened for writing articles against the government, and when they did not listen, they were attacked. This is an act of attacking the press freedom," says Opposition party leader, Chandrababu Naidu.

The Namapally Magisterial Court postponed the hearing on Margadarsi stay order, on raids being held by the CID, till February 24.

Meanwhile, depositors of Margadarsi finances took out a rally from Basheerbagh, in support of Eenadu, and submitted a memorandum to the Governor. The 25 lakh depositors are still confident and so far has not lodged a complaint.

"It is effecting and creating panic among the depositors unnecessarily and Congress government," says a Margadarsi depositor, Ramesh.

Despite the Reserve Bank of India's clean chit to Margadarsi Finances and appeals from the Editor's Guild, the CID raided three Margadarsi offices on Wednesday and even after the stay order, they continued the raids till late night.

The special interest being taken by the state government in the Margadarsi issue and its non action towards Krushi Bank, Charminar Bank and Prudential Bank, scandals is the bone of contention.

first published:February 22, 2007, 19:01 IST