The State government has issued orders to attach the properties of Agri Gold Group and Maithri Plantation and Horticultural Pvt. Ltd., which have been accused of defrauding customers of thousands of crores by promising them higher returns or developed plots.
The Revenue Department has been directed to attach their properties for cheating people in Tumakuru, Kolar and Raichur districts and not returning their deposits, Law and Parliamentary Affairs Minister T.B. Jayachandra told reporters here on Tuesday.
The Minister, who chaired a meeting with the Crime Investigation Department (CID) officers and Revenue Department officials, said it was decided to attach their properties with police support within 50 days.
Agri Gold alone has cheated people in Sira and Madhugiri and failed to return their deposits. Cases would be booked against owners of the companies under the Karnataka Protection of Interests of Depositors in Financial Establishment Act, 2004, Mr. Jayachandra said.
The State government has written to Chief Secretaries of Andhra Pradesh and Kerala governments seeking action against the firms and attachment of their properties.
The Minister said the depositors had approached him and the police seeking action against companies. Poor people deposited their hard-earned income when the companies offered them high interest rate, he said.
Advice to public
He advised the public not to enter into agreement with the two firms for sale or transfer of attached properties as it will be considered illegal.
