Bambino, a well-known brand in Telugu households, is making headlines for a major family dispute. The feud involves the transfer of company shares and has now taken a serious legal turn.
A case has been filed against the four daughters of Madyam Kishan Rao for allegedly transferring company shares illegally to their names.
Kishan Rao had founded Revathi Tobacco Company in 1972 and later established the Bambino company in 1982. His share in Revathi Company stood at 98.23%, while his wife Sugandha Bai owned 1.77%.
Revathi Company owns 184 acres of land, valued at around Rs 120 crore today. After Kishan Rao’s death in 2021, his daughters reportedly transferred 24.55% of shares each to themselves without consent.
His grandson, Karthikeya, has lodged a complaint with Hyderabad CCS, alleging that the transfer was done against his grandfather’s will. He also raised concerns about the division of the 184-acre property.
Based on his complaint, a case has been filed against the four daughters Sridevi, Tuljabhavani, Anuradha, and Anandadevi. Police officials stated that notices will soon be issued to them for further investigation.
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