HC admits Ramoji's writ petition

Hyderabad, Jan 25 (UNI) The Andhra Pradesh High Court today rejected the plea of the media baron Ch Ramoji Rao to stay all proceedings before the Rangachary Committee.

A Division Bench however, admitted the writ petition and posted it for hearing in second week of February second week.

Mr Ramoji Rao, in his capacity as the 'Kartha' of the Joint Hindu Family, which has been running the Margadarsi Financiers had filed the writ petition questioning the appointment of the Rangachary Committee to probe into the alleged financial mismanagement in the Margadarsi Financiers Limited.

Mr Rao contended that the State Chief Minister Y S Rajasekhara Reddy had grown impatient over his relentless efforts in exposing the fiscal irregularities in the execution of irrigation projects as part of Dr Reddy's pet project Jalayagnam.

He alleged that the Chief Minister had orchestrated a campaign against Margadarsi Financiers, a sister concern of Eenadu, Telegu daily and ETV newschannels to thwart his attempts to expose the corruption of the Government.

The Bench comprising the Chief Justice Mr Justice G S Singhvi and Justice C V Nagarjuna Reddy observed that the petitioners main contention was that Rangachary Committee has no jurisdiction to probe into the activities of Margadarsi.

He could as well ignore the Committee or submit himself and prove his innocence, they added.

The Bench said in either case there is no compulsion on Mr Rao.

The Government had constituted the Committee ''more as an attempt to know the veracity of the allegations levelled against the Margadarsi, which in engaged in collection of deposits from the general public,'' they added.

UNI