The Andhra Pradesh government has issued an order to attach movable assets worth Rs 793 crore belonging to Margadarsi Chit Fund Pvt Ltd (MCFPL), officials said.

According to them, the order was issued after the state government received a request from CID chief N Sanjay, who is probing the chit fund company over allegations of financial irregularities and misappropriation of subscribers' money.

Asserting that the state government was committed to safeguarding the rights and financial well-being of those affected by the alleged irregularities, the CID chief said seven FIRs have been registered against MCFPL Chairman Ch. Ramoji Rao and Managing Director Sailaja Kiran under various sections of the IPC, Chit Funds Act and others.

"The CID has written to the Andhra Pradesh government seeking permission to freeze any financial assets that could potentially be diluted by MCFL," Sanjay said in a press note.

He said the move was essential to preserve the assets and resources that rightfully belong to the subscribers. The CID chief would file an application in court to make these orders absolute.

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Sanjay said the CID remains steadfast in its pursuit of a comprehensive and impartial investigation into the Margadarsi chit fund case.