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Victims for CBI probe
The arrest of AgriGold group chairman Avva Venkata Ramarao and managing director Avva Venkata Seshu Narayana Rao came as a big relief for depositors, who have been agitating for return of their money for over past one year.
Vijayawada: The arrest of AgriGold group chairman Avva Venkata Ramarao and managing director Avva Venkata Seshu Narayana Rao came as a big relief for depositors, who have been agitating for return of their money for over past one year.
The depositors – over 32 lakh in numbers and spread over eight States - have been demanding for a CBI probe, as the crime has inter-State connection and even spread globally with the AgriGold having its business and assets in Dubai.
Speaking to The Hans India, AgriGold Customers and Agents Welfare Association general secretary V Tirupati Rao welcomed the arrest of the chairman and managing director by the CID. “The court had remanded them to judicial custody for 14 days and they might come out after that. This should not happen. They should be jailed until our accounts are settled,” Tirupati Rao asserted.
The depositors said that over seven members of the family are involved in the activities of the AgriGold. However, the CID had named just three of them including the chairman and the managing director. The depositors wanted the CID to include the remaining four members of the family, and also book cases against the employees who had cheque power in the company.
The agents and employees are on the streets since the company’s financial fraud was exposed. The agents are facing pressure from the customers, particularly the depositors, who had paid to the company through these agents for repayment.
It is unfortunate that on the day when the chairman and the managing director were produced in the Eluru court, a woman agent from Ananthapur had committed suicide due to pressure from the customers. “The agents too are under pressure with some of the depositors asking them for return of the deposits,” admitted Tirupathi Rao.
The depositors want the Central government to hand over the AgriGold case to the CBI as it is involved with the customers of eight States in the country. The court had already directed the State government to dispose the assets of the company and return the money to the depositors besides settling payments for the agents and employees.
“The CID cannot take over the assets of the company located in seven other States. It requires a central organisation with all powers to do such things in any State. It is for this reason we are asking for the CBI probe,” Tirupati Rao asserted.
