Andhra Pradesh HC Grants Bail To Former TDP MLC And Son In Chit Fund Case

Adireddy Appa Rao, a senior TDP leader, and his son were arrested by the CID for alleged irregularities in Jagajjanani Chit Fund Pvt Ltd (JCFPL), a company owned by them.

Former Telugu Desam Party (TDP) MLC Adireddy Appa Rao(left),TDP state executive secretary Adireddy Srinivasa Rao(right)

Source : ABP Desam

The Andhra Pradesh High Court on Wednesday granted bail to Adireddy Appa Rao, a senior leader of the Telugu Desam Party (TDP) and former member of the Legislative Council (MLC), and his son Adireddy Srinivasa Rao in a case relating to financial irregularities in a chit fund company.

The father-son duo were arrested by the Crime Investigation Department (CID) of Andhra Pradesh on April 30. They had filed a bail petition and the High Court had completed hearing on the same two days ago.

Appa Rao, the husband of TDP Rajahmundry MLA Adireddy Bhavani, and his son Srinivasa Rao are directors in Jagajjanani Chit Funds Private Ltd.

During the hearing on the bail petition, the lawyer for the TDP leaders argued that the Depositors Act does not apply in the case. They also argued that a case was registered against them without any complaint lodged by depositors.

Advocate General Sriram argued before the court on behalf of the state government that the accused diverted money from the depositors to utilise for other reasons.

Meanwhile, the main opposition Telugu Desam Party (TDP) condemned the arrests. TDP national president and former chief minister N. Chandrababu Naidu spoke to Bhavani over the phone and expressed solidarity with her. Naidu said that the political harassment and vendetta by the YSR Congress Party (YSRCP) government are increasing by the day. He lamented that there has been no change in the ruling party's behaviour.

The TDP president had said the YSRCP government believed only in illegal cases and illegal arrests. He said the arrest of Appa Rao and Srinivasa Rao is another example of the YSRCP government's politics of vendetta. Naidu said despite courts reprimanding the government on many occasions, the Jagan government has not mended its ways.