Here is some good news for lakhs of depositors who invested in the AgriGold Group.
The AP Crime Investigation Department (CID) which was probing the alleged fraud in the AgriGold Group of Companies is planning to put the seized properties of the company for auction.
The CID has identified and seized properties — movable and immovable — of AgriGold and its allied organisations in Andhra Pradesh, Telangana, Karnataka and Odisha. About 32,02,607 accounts of the depositors had been identified across the country.
Agriculture lands, resorts, residential areas and offices were among them, said the CID officials.
Properties seized
“The CID has identified 1,707 acres and 764 square yards in Andhra Pradesh including Haai Land in Chinna Kakani in Guntur district, agriculture lands in Krishnagiri and Kalluru mandals in Kurnool district, AgriGold Construction Office in Vijayawada and Beach Resort at Yarada in Visakhapatnam,” said CID Additional Director General Ch. Dwaraka Tirumala Rao.
In Telangana, 1,162 acres of agriculture lands were seized in Timmajipet, Narva, Mirjil, Kodangal, Lakshmipuram and Utukuru mandals in Mahabubnagar district. Besides, 54 cars, 2.4 kg gold jewellery and 8.47 kg silver ornaments were seized.
“As many as 19,43,120 depositors’ accounts were traced in AP, 8,43.864 accounts in Karnataka, 2,66,944 in Telangana, 95,401 in Odisha, 38,363 in Tamil Nadu, 9,160 in Maharashtra, 4,549 in Andaman and Nicobar and 1,206 accounts have been identified in Chhattisgarh State,” Mr. Tirumala Rao told The Hindu on Saturday.
“The CID will soon begin auction of AgriGold properties and said the process was delayed as a Public Interest Litigation (PIL) was filed in the High Court. We are making efforts to get clearance from the court and do justice to the depositors. Once we get green signal from the court, the government will auction the properties,” he said.
Awareness meetings
To explain the status of the cases filed against the group, the CID had organised awareness meetings at Kurnool, Visakhapatnam and Vijayawada and explained the situation to the depositors and agents, said Mr. Tirumala Rao.
The group owes Rs. 7, 623 crore including Rs. 3,957 crore to depositors (in Andhra Pradesh alone), Rs. 537 crore to different banks, and Rs. 1.7 crore other liabilities, said the CID Addl. DG.
