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    HomeAndhra PradeshSupreme Court directs Telangana HC to perform thorough review of Margadarsi's deposits,...

    Supreme Court directs Telangana HC to perform thorough review of Margadarsi’s deposits, causing setback

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    In New Delhi, the Supreme Court has raised concerns about illegal deposits made by Margadarsi Chit Funds Private Limited (MCFPL). Justices Surya Kant and Viswanathan heard a petition regarding irregularities in the company’s chit funds. They stated that a detailed examination of the deposits was necessary and decided to refer the matter to the Telangana High Court. The court emphasized that the scrutiny should be completed within two to three months.

    The Supreme Court highlighted the importance of thoroughly reviewing the deposits and questioned whether any money had been returned to depositors. They instructed for details to be gathered through a public notice and suggested appointing a former High Court judge for this task.

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