Tens of thousands of persons, who had put their hard-earned savings in the scam-tainted AgriGold firm in Prakasam district, were hoping against hope for early return of their deposits when the State police set in motion the procession of verification of documents from Thursday last. Now they are in a quandary with the police putting several conditions like production of bond and last paid receipt for taking their investments in the firm into cognizance.
While over 90,000 customers had enrolled themselves on the CID website, an equal number of investors, most of them illiterates, are clueless on completing the enrolment and verification processes, says AgriGold Customers and Agents State secretary V. Tirupati Rao. The police should proactively come forward to complete the enrolment and verification process on their behalf, he adds.
The verification is progressing at a snail’s pace with the computer server taking longer time to process, complains a teacher Srinivasa Rao while patiently waiting for his turn at the designated verification centre set up at the Ongole II Town police station. Going by this trend, the verification process may take more than two months for completion, he opines.
It is unfair to insist upon the last paid receipt, another customer Venkateswarlu, a lawyer, says while waiting at the verification centre for hours together. Whatever proof is submitted by investors, including photocopies, should be accepted and their eligibility could be decided after tallying them with the firm’s account books, he feels.
Even cash receipts and vouchers issued by the firm should be accepted as proof, yet another investor Subba Rao insists, adding that the agent concerned had not given the last paid received as the firm had downed the shutters by then.
Cheque bounce cases
Cheques to the tune of ₹700 crore issued by the firm after taking back the bonds had bounced and they should also be accepted as proof for returning the deposits, maintains Mr. Tirupati Rao. While production of bonds for fixed deposits is not an issue, it is a daunting task for daily wagers, who had invested in the firm on daily and monthly basis, to produce all the papers, he adds.
Those living in other States and abroad should be allowed to complete the verification process through their family members residing in the State, he says, adding those who had shifted to other places within the State should be allowed to complete the process in the places where they reside now. In many cases, the agents under pressure had settled the dues after taking a receipt and they should be allowed to make claims on behalf of the customers, he adds.
Process speeded up
According to SP B. Satya Yesu Babu, papers of 2,000 investors were verified on the first day and another 3,000 investors on the second day in the district. But the process has picked up pace with the number of depositors going up to 5,000 each on Saturday and Sunday.
The process will be continued till October 26 and extended thereafter if needed, he adds.
