It has been a few months since the Agri Gold issue hit the headlines, yet there is no clarity on the quantum of fraud and total value of the company assets.
Different figures ranging from Rs.6,000 crore to Rs.20,000 crore have surfaced in the media reports. Senior Marketing Agents of Agri Gold group had also demanded the government that the top management of the firm reveal the details of company assets.
The officials were stonewalling the agents saying that the investigation had been handed over to the CID and they had no information. Following complaints from customers, police had registered cases and even conducted raids on Agri Gold Group of Companies Chairman and MD Avva Venkata Seshu Narayana Rao’s house at Satyanarayanapuram here in January.
Many customers have been staging demonstrations at the company headquarters at Revenue Colony here often alleging that the company was not repaying amount though the maturity period was over. Some customers alleged that staff was delaying the procedure and the cheques issued by them had bounced.
Further, people, who had purchased various products of the company, were pestering the agents to stage demonstrations and approach the government to ensure justice for all- the depositors and the agents.
It is not just agents and customers, even Andhra Bank employees had taken out a silent rally from Labbipet to Agri Gold office in the city in March, demanding that the company repay the pending Rs. 227 crore to the bank.
