Hyderabad: Vizianagaram Member of Parliament (MP) Kalisetti Appala Naidu on Wednesday rejected YSRCP MP Midhun Reddy's allegations regarding Margadarsi Chits saying they were "incorrect and misleading".
Kalisetti Appala Naidu revealed that he joined as a customer of Margadarsi Chits in 1995 with his first salary of Rs 50,000, and the organisation has been continuously serving clients ever since. In 1996, the funds he got from the chit were used to acquire agricultural land, and Margadari has continued to operate successfully.
The Telugu Desam Party (TDP) MP recalled a similar controversy from 2006 when Margadarsi was subjected to a smear campaign. Thousands of people, including supporters of the then Congress government, rallied in support of the organisation in Srikakulam district. Despite the false accusations, Margadarsi remains a trusted name in the community.
Kalisetti Appala Naidu emphasised that Margadarsi is built on trust and that those who have supported the organisation over the years deserve an apology from those making baseless allegations. He also slammed YSRCP leaders for attempting to tarnish the reputation of institutions like "Eenadu and Margadarsi".
Meanwhile, the Vizianagaram MP celebrated a major milestone for the TDP, announcing that over one crore people have joined the party. He revealed plans to expand the membership drive to the Andaman and Nicobar Islands in addition to Telangana and Andhra Pradesh. In another significant development, the 'TDP Mahanadu' is set to take place in Kadapa in May 2025.
He also expressed his satisfaction with Nara Lokesh's leadership, under which the party has achieved the milestone of enrolling over one crore members. He highlighted that Lokesh is actively engaging with Union Ministers in Delhi to advance the interests and development of Andhra Pradesh.
On the issue of governance, Kalisetti Appala Naidu lauded Andhra Pradesh Chief Minister N Chandrababu Naidu’s leadership, praising his efforts to drive growth in Andhra Pradesh despite numerous challenges.
The Lok Sabha member also accused the previous YSRCP government of mismanagement and looting state resources during their five-year rule. He expressed confidence that Amaravati and other regions in the state are witnessing significant development under the TDP leadership.
Kalisetti Appala Naidu also took a jibe at YSRCP chief YS Jagan Mohan Reddy for claiming to have served as Chief Minister for 30 years, dubbing the statement as "ridiculous."
