The government of Andhra Pradesh has been enforcing the AP CID on the Margadarsi group offices for the past few months. CID officials are raiding Margadarsi office at an extensive rate.
Now, the High Court of Andhra Pradesh has ordered the government and the investigating authorities not to raid the Margadarsi offices till they pass an interim order on the same.
“Why are you raiding their offices despite our suggestion to wait for interim orders? The Telangana High Court also ordered you to only carry out the investigation during work hours. But you are raiding their office in the night hours. What is the need for such aggressive measures?” The high court of AP questioned.
The court questioned if the investigating authorities intimated about their raids prior to carrying them out, which is a standard protocol.
Meanwhile, Margadarsi has been arguing that this is a blatant attempt to torture the top leadership at the company. They allege that the investigating officers are creating a scene by shutting the doors and shutters and not allowing investors to carry on with their deposits.
