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Andhra Pradesh
Arrest Nagarjuna Finance directors: CPI
HYDERABAD,
FEB. 27.
The State Council of the Communist Party of India has demanded immediate arrest of former and present directors of Nagarjuna Finance Limited, which allegedly duped thousands of investors to the tune of Rs. 81 crores. The Nagarjuna Group was trying to wash its hands off Nagarjuna Finance Ltd, charged the council assistant secretary, K. Narayana, in a statement.
He took objection to the manner in which the group chairman, K.S. Raju, claimed that Nagarjuna Finance had been sold to Mahalakshmi Factoring Services Limited in 2000, retaining the old name, and that it had no responsibility to depositors' claims.
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