The Vijayawada based Agri Gold Group of companies has been in news for quit a long time. The companies owner Mr V R Rao duped 3.2 million customers by running away with Rs 6,380 crore. He promised customers higher returns or developed plots after which they invested their money in this company.
After this scam, the state government issued orders to attach the propertiees and sell them. The owner of AgriGold has been arrested and is facing criminal cases.The company did not had any permission from the Reserve Bank of India to collect deposits from public.
Case Handed Over to CID
A Division Bench of the High Court directed the CID of AP State to file status report pertaining to pending case against the AgriGold scam which is facing charges of cheating small depositors.
T Krishna Prasad, additional director general of police (DGP) heading the CID, said in a statement said “The Crime Investigation Department (CID) has made efforts to gather information on Agri Gold group activities and established that the company has cheated the public and hence, recommended for attachment of its properties to an extent of 16,857.81 acres and 82,207 square yards of land in Andhra Pradesh and also 2.5 kg of gold, Rs 7.5 lakh cash and 54 four-wheelers.”
Protest
All the Leaders of various political parties came together at Amaravati to support AgriGold victims. They extended their cooperation to stage a massive dharna at ANU premises. The dharna was organised to mount pressure on the government. Victims asked the government to refund deposits on Wednesday.
The police slightly caned the protesters when they tried to barge into Haailand theme park at China Kakani.
The huge rally was organised where a large number of people from different places in Guntur district gathered on NH-5 at ANU. They raised slogans against the government and AgriGold Company.
YSRCP, CPI, and CPI (M) leaders also demanded the State government to ensure payment of amounts to the victims by liquidating the company’s assets. For about one hour traffic came to a standstill on both sides of the national highway. Police swung into action to clear the blockade.
K Ramakrishna, CPI State secretary and CPI (M) leader P Madhu addressed a huge gathering.They accused the government of failing to repay the amount held back by AgriGold. They also alleged that the government has not pressurised the firm’s promoters. Protesters said that government has failed to keep its promise with regard to a liquidation of AgriGold assets.
They demanded the government to take necessary steps. Forum leader Chalasani Srinivas also spoke. Venkateswarlu, one of the victims, said: “ there was no response from the government although around 100 customers had resorted to suicides in the State so far.”
He added “The deposits were diverted into reality and the values of the immovable assets owned by the company went up manifold. But depositors were facing severe financial problems.”
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By M. Divya Shri
