Monday, December 10, 2007

Is Mr.Undavalli a depositor of Margadarshi !

I had posted this comment on Dr.Jayaprakashnarayan's blog, reacting to a post discussing the Margadarhi & Mr.Undavalli feud:

Mr.JP spoke about Margadarshi episode was just, reasonable and unbiased. The issue was racked by Mr.Undavalli only to attract congress high command’s attention and to secure himself politically. It is obvious that the depositors of Margadarshi have reposed full faith in Mr.Ramoji Rao, otherwise thing would have been different. I leant from newspapers that Mr.Ramoji Rao has issued deposit certificates to all depositors in his capacity as the Kartha of his HUF.Which implies that he is directly responsible to repay every single deposit. He can be sued personally by any depositor. I don’t think any individual representing any FI in the world is personally liable under the law of their respective lands. I fail to understand, why people who have not deposited in Maragadarshi are making a hue and cry, when the depositors themselves are feeling safe and going about their life normally. On the face of it, it appears that, as Mr.Ramoji Rao writes against congress party in his Eenadu Mr.Undavalli ET el are targeting him albeit in a foolish way to say the least.

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