Live
- Pushpa Actor’S Action-Packed Day: Lights, camera, arrest
- National Lok Adalat today
- Teacher Manga Rani selected for national workshop
- MyVoice: Views of our readers 14th December 2024
- Soros & Gandhis links raise many disturbing questions
- Record additions in non-fossil fuel energy in India
- Indian teens’ grand arrival on world stage
- Chanchalguda Jail Officials Say They Haven't Received Bail Papers Yet, Allu Arjun May Stay in Jail Tonight
- BJP leaders present evidence of illegal voters in Delhi, urge EC for swift action
- Exams will not be cancelled: BPSC chairman
Agri Gold comes under police scanner
Agri Gold comes under police scanner, Nellore district police on Sunday launched high profile operation against Agri Gold Company on the charges of the company defaulting on returning deposits even after their maturity.
- Cops conduct simultaneous raids on company’s Nellore branch and chairman’s house in Vijayawada
- Depositors agitating over non-refund of their savings even after maturity date
- Nellore district Superintendent of Police Senthil Kumar takes the initiative
Nellore/Vijayawada: Nellore district police on Sunday launched high profile operation against Agri Gold Company on the charges of the company defaulting on returning deposits even after their maturity.
The police conducted simultaneous raids on the Agri Gold office in Nellore and also the house of company chairman in Vijayawada. The police refused to divulge the information on the searches being carried out in the company’s office in Nellore and chairman’s house in Vijayawada.
The police action followed a number of complaints lodged by depositors that their deposits were not returned even after maturity date. The company has been in the business for last 15 years.
According to police sources, there were complaints by depositors against the company. The company owed as much as Rs 83 crore to depositors in Nellore district alone, the source said. None from the management had responded though depositors and agents together have been staging protests for past 20 days.
Nellore district Superintendent of Police Senthil Kumar took the initiative to investigate into the case and appointed Central Crime Station (CCS) Inspector of Police P Sridhar as investigative officer.
The Agri Gold Company during last 15 years carried out enormous amount of financial transactions in the district. It has over 4,000 agents in the district. The company, according to an estimate, had carried out its financial transactions up to Rs 700 crore in the district alone. The company conducted business in money saving and recurring deposits, besides real estate. Apprehensions among the accountholders on the fate of their money deposited in company increased after some of the branches were allegedly shut down. Apart from it, there were allegations that some of important files in the Visakhapatnam branch of the company were reduced to ashes when fire broke out. Depositors in Darsi in Prakasam district, Khammam district and Rajahmundry staged protests in support of their demand that their deposits be returned with interest.
