Vijayawada

‘AgriGold property worth Rs. 7,326 cr. attached’

The Economic Offences Wing of the Crime Investigation Department probing the inter-State fraud allegedly committed by the AgriGold Group of Companies said on Saturday property worth about Rs. 7,326 crore (as per market value) had been identified and attached in Andhra Pradesh.

However, the government value of the attached property was Rs. 2,635 crore.

CID Additional Director General Ch. Dwaraka Tirumala Rao said cases had been registered in various police stations across Andhra Pradesh in January last year.

Five persons, including company chairman Avva Venkata Rama Rao, vice-chairman E. Sadashiva Vara Prasad, managing director Avva Venkata Seshu Narayana Rao and directors K.S. Rama Rao and Pattan Lal Ahmed Khan, were arrested and kept under trial in the Eluru Court.

The CID identified 32,02,607depositors in Andhra Pradesh, Telangana, Karnataka, Odisha, Chattisgarh and other States. Of them, 19.43 lakh depositors were from A.P., the official said at an awareness meeting organised for the victims here on Saturday.

The deposits were collected in the names of Agri Gold Farm Estates India Private Limited, Dream Land Ventures Limited, Agri Gold Constructions Private Limited, Amruta Varshini Dairy Farm Limited and other companies floated by the management. As per records, Rs. 1,182 crore was collected from the customers in AP.

“In A.P., 16,857.81 acres of land and 82,207.08 square yards have been identified in various power projects, avenue plantations, timber estates, dairy farms, resorts, offices and house buildings and multi-products promoted by Agri Gold Companies. Besides, gold, silver and posh cars were seized and attached,” the official said.


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Printable version | Oct 12, 2021 9:25:12 AM | https://www.thehindu.com/news/cities/Vijayawada/%E2%80%98AgriGold-property-worth-Rs.-7326-cr.-attached%E2%80%99/article14622034.ece

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