Denied pressure from Finance Ministry
Hyderabad, December 23, 2006
The Congress MP Vundavalli Arun Kumar said on Saturday that he had only protected the interests of the depositors of Margadarsi Financers by exposing the violations of the Reserve Bank of India Act. He said that the shares of a group of Margadarsi group would be sold to an international company was a testimonial to this. At a press conference held on Saturday, he said that there is no way for Margadarsi to repay the amount to the depositors.
He denied that pressure was being mounted on him by the Finance Ministry to act against Margadarsi to financially cripple the daily ‘Eeendu’. He questioned that as a Member of Parliament, when the issue came to his notice, how can it be termed as mounting pressure on anybody. He asked that anybody contradicted the issue he raised about the unauthorized collection of deposits by Margadarsi. He opined that there was a need for a national debate on the issue that such incidents did not occur and he would organize such a debate and invite the editors and senior journalists to participate.
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