Latest news with #Margadarsi
Time of India
04-08-2025
- Business
- Time of India
HC frees Margadarsi from criminal liability in 18-yr-old case
Hyderabad: In a major relief to the successors of the Margadarsi group, founded by the late media baron Ch Ramoji Rao, Telangana high court on Monday quashed the criminal cases filed against Margadarsi Financiers by the former Andhra Pradesh govt in 2008. A division bench comprising Justice P Sam Koshy and Justice K Sujana ruled that the case stood abated following the death of Ramoji Rao last year. The court held that in the absence of the main accused, further prosecution of the company could not continue effectively. The ruling thus brings a long-pending legal battle to a close, nearly 18 years after the original case was filed. You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad The AP govt had alleged that Margadarsi collected public deposits without legal permission, violating provisions of the Reserve Bank of India (RBI) Act. The firm, however, argued that it was functioning as a Hindu joint family business, which is not prohibited under law, and that the restrictions cited in the RBI Act applied only to non-banking financial companies. The RBI opposed this argument, asserting that the charges were against the corporate entity, not just Ramoji Rao. It said the business operations of Margadarsi Financiers were still active, and the legal question of whether it had accepted deposits in violation of the RBI Act remained unresolved. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Biggest Real Estate Discounts Ever at M3M India. Enquire Now! M3M India Book Now Undo Therefore, it argued, the case should not be dismissed on the grounds of the founder's death. However, Justice Koshy, announcing the court's decision, stated that prosecution could not move forward in the absence of the key individual accused and allowed the company's plea. Margadarsi was represented by a team of senior advocates, including S Nagamurthy, Mukul Rohatgi, and Siddharth Luthra. The RBI was represented by senior counsel L Ravichander, and the AP govt by public prosecutor Palle Nageshwar Rao. The high court also closed the petitions filed by the current management of the company seeking to be made parties in the case. Since the main petition was allowed and the criminal cases quashed, their applications were declared closed.
New Indian Express
26-07-2025
- Politics
- New Indian Express
CM Naidu adopts 250 families under P4 scheme, urges people's movement to end poverty in AP
VIJAYAWADA: Demonstrating a strong commitment to eradicating poverty, Chief Minister Nara Chandrababu Naidu announced that he and his family will join the ranks of Margadarsulu (mentors) under the State's ambitious Zero Poverty P4 programme. Speaking at a review meeting and unveiling the #IAmMargadarsi poster at the Secretariat on Friday, Naidu declared, 'I am adopting 250 families from my Kuppam constituency. I take full responsibility for their holistic development. I've been urging mentors to come forward, and now I'm leading by example by adopting these 250 Bangaru Kutumbams. I will prepare a detailed development plan for them. I am a Margadarsi. No other State has undertaken such an initiative to bridge the gap between the rich and the poor.' The Chief Minister expressed confidence that his active participation would inspire others to step forward as Margadarsulu and support underprivileged families. He emphasised that the initiative must become a people's movement, with collective efforts aimed at uplifting the State's most vulnerable communities. Naidu reiterated that empowering poor families is a central goal of the coalition government and urged officials to implement the most effective strategies across all regions. He called on Telugu diaspora to join the initiative and directed officials to engage the AP NRT Society.
Hans India
26-07-2025
- Politics
- Hans India
CM, family to adopt 250 poor families
Vijayawada: Leadingfrom the front and demonstrating that the coalition government's recent initiative, 'Zero poverty programme', is not just a political hungama of appealing to the rich to help the poor; Chief Minister Nara Chandrababu Naidu and his family members have decided to adopt 250 impoverished families in Kuppam, thereby reflecting the proverb 'Charity begins at home' and standing out as a role model for others. "I am adopting 250 families from my Kuppam constituency, taking full responsibility for their holistic development," the Chief Minister declared. "I've been urging mentors to step forward, and now, I'm not just saying it, but demonstrating it by adopting these 250 Bangaru Kutumbams. I will make a detailed development plan for them. I am a Margadarsi." Officials presented the "I Am Margadarsi" badge to the Chief Minister, who then unveiled the corresponding poster, symbolizing his direct involvement. Naidu had launched the 'P4 - Margadarsi Bangaru Kutumbam' programme,which aims to lift families out of poverty by connecting them with mentors. Under P4, affluent people who commit to uplifting the poor are designated as 'Margadarsis' (mentors) and the beneficiaries as 'Bangaru Kutumbam' (golden family). P4 encourages the wealthiest 10 per cent of society to adopt and guide the poorest 20 per cent towards economic stability. While reviewing the P-4 (Public Private People Partnership Programme) on Friday, the Chief Minister asserted that this personal involvement would inspire others and encourage affluent sections among citizens to come forward as mentors. The Chief Minister expressed his view that the P4 initiative was 'evolving into a people's movement' and reiterated that empowerment of poor families was a core objective of the coalition government. Chief Minister Naidu emphasised the unique nature of the P4 programme, stating, "Nowhere else has such a programme been undertaken to bridge the gap between the rich and the poor." He drew a parallel to the past "Janmabhoomi" spirit, which focused on village development, explaining that P4 now aims for "focused interventions to uplift the poor." The Chief Minister urged officials to implement the most effective strategies across all regions to ensure the success of the programme. "As part of P4, the families identified as 'Bangaru Kutumbalu' must grow in all aspects. My vision is for today's Bangaru Kutumbams to become tomorrow's mentors. Those who receive help today must come forward to help others in the future," he articulated. The Chief Minister stressed the vital importance of public awareness for the program's success, envisioning it as a "long-lasting initiative." He highlighted that many individuals were held back by poverty despite having "big dreams and great ideas," and that extending a helping hand can enable them to "achieve wonders." "Among all the programs I've undertaken, P4 is one I feel deeply connected to," he added. The Chief Minister called upon Telugu people around the world to become part of the initiative and advised officials to engage the AP NRT Society to involve the Telugu diaspora. In the context, he stressed the responsibility of District Collectors to coordinate with corporate entities and encourage their participation. Emphasising the importance of local engagement, Chandrababu Naidu suggested that villages be taken as the basic unit, with NRIs and industrialists from those regions adopting local Bangaru kutumbam. In the absence of local mentors, he said, officials could establish connections with 'non-local supporters'. To accommodate donors at the state level, the Chief Minister proposed the creation of a common fund that would be used to provide support to Bangaru kutumbams as part of the P4 initiative. The Chief Minister announced that Phase 1 of P4 will commence on August 15. He stated that a comprehensive development plan would be prepared for each identified Bangaru Kutumbam. This involves a survey with ten key questions to assess each family's specific needs and capabilities, based on which a "vision document for every family" is being prepared. The Chief Minister directed that the survey for identifying the priorities of Bangaru kutumbams be completed by August 10. He emphasised the need to obtain feedback on both financial- and non-financial assistance provided by mentors. He said that officials must instill trust among mentors and ensure that all information about Bangaru Kutumbams and mentors was accurately recorded at the village and ward secretariat levels. The Chief Minister underscored that by August 15, efforts must be made to ensure the adoption of 15 lakh Bangaru Kutumbams by mentors. As of now, 5,74,811 Kutumbams have been adopted and 57,503 individuals registered as mentors. Officials informed him that an additional two lakh mentors were required to reach the goal. Palnadu district has recorded the highest number of adoptions, while Visakhapatnam has the fewest. The Chief Minister announced that Phase 1 of P4 will commence on August 15. He stated that a comprehensive development plan would be prepared for each identified Bangaru Kutumbam. This involves a survey with ten key questions to assess each family's specific needs and capabilities, based on which a "vision document for every family" is being prepared. For the initiative's success, CM Naidu stressed the need for active contributions from "everyone, from me to the MLAs," and from the "Chief Secretary to field-level employees." During a Zoom conference, the Chief Minister interacted with elected representatives and government officials. Inspired by the CM's gesture, Madanapalle MLA Shahjahan also announced the adoption of five poor families, a move appreciated by the Chief Minister. Public representatives assured the CM of their full cooperation in implementing this first-of-its-kind program in the country. The Chief Minister highlighted the critical role of organisations such as KPMG, Milaap, Tammada, Bhavya, Bhargo, and Project Deep in supporting the P4 programme. Chief Secretary K. Vijayanand, Swarnandhra P4 Foundation Vice-Chairman Kutumbarao, and senior officials from the Planning Department were present during the review.
Hans India
15-07-2025
- General
- Hans India
P-4 Concept: Select Margadarsis on war-footing, officials told
Nellore: District Collector O Anand has directed the officials to ensure the success of State government's prestigious P-4 concept by selecting the 'Margadarsis' in a war-footing manner. Addressing the review meeting of all departments officials here on Monday, the Collector has said that following the directions of the government, as many as 50,000 Margadarsis should be picked in Nellore district against the total figure of 15 lakh in the entire State by August 15. The Collector said that the selection of Margadarsis should be taken up in a campaign mode. Otherwise, it will not be possible to complete such mammoth task. Each Margadarsi is expected to at least adopt one Bangaru Kutumbam. The Collector directed that the engineering department should initiate steps of selecting not less than 500, while DRDA, Panchayat Raj, RWS, Medical & Health, R&B, APSPDCL and Education department more than 2,000 in the interest of completing the targets in a time-bound manner. The Collector suggested to the officials to seek the cooperation of local social activists and voluntary organisations if it's necessary. The Collector ordered them to begin the process in coming four days.
Hans India
06-07-2025
- General
- Hans India
42,817 Banagru Kutumbalu in the dist
Parvatipuram: There are approximately 42,817 Banagru Kutumbalu (Golden Families) in the Parvatipuram Manyam district. The district is preparing to coordinate these families with Margadarsi (guides). The families were selected by the government based on household data available online. Constituency-level workshops have begun to ensure the success of the programme, which aims to uplift families from poverty through guidance provided by Margadarsi. On Saturday, district collector A Shyam Prasad conducted a workshop with the relevant officials, instructing them to work with dedication to help families rise out of poverty. He emphasised that the government is prioritising this initiative to eradicate poverty within these families. The official team is expected to collaborate effectively to bridge the gap between the Bangaru families and Margadarsi. The collector praised the district team for their successful work in Yogandhra, where about 500,000 people enrolled in the program. He encouraged them to maintain that same spirit in this initiative to make the district a model for others. He motivated the officials to work diligently and thoughtfully, noting that such efforts could lead to remarkable outcomes. He stressed the importance of continuous support and coordination until each family reaches a certain level of stability. The district collector instructed the Grama Sachivalayam staff to contact the families and conduct a needs survey to understand their requirements, ensuring effective coordination with Margadarsi.
