Eenadu group chairman Ch Ramoji Rao would pay Rs 5 crore as income tax arrears due by Margadarsi Chit Fund. This was the assurance given by his counsel to the A P High Court on Tuesday when the petition filed by the media baron challenging the I-T department’s show cause notice seeking payment of Rs 80 crore came up. When Ramoji Rao sought postponement of the final hearing, counsel for the I-T department S R Ashok opposed this saying that he would not agree for a final hearing in this matter as long as the alleged defaulter did not pay up even a fraction of the arrears. Then the counsel for Ramoji Rao came forward with a proposal that his client would pay Rs 5 crore and then the bench posted the matter to June 30 for final hearing.
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