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Government to pay ex gratia of Rupees 5 lakh to kin of victims on AgriGold Scam
The state government issued orders on Friday providing administrative sanction for paying an ex gratia of Rs 5 lakh for each Agri-Gold depositor/agent who have committed suicide.As a follow up measure to the announcement in the recent Assembly session where the government came forward to pay an ex-gratia of Rs 5 lakh to legal heirs of each depositor who committed suicide. The government has issue
Amaravati: The state government issued orders on Friday providing administrative sanction for paying an ex gratia of Rs 5 lakh for each Agri-Gold depositor/agent who have committed suicide.As a follow up measure to the announcement in the recent Assembly session where the government came forward to pay an ex-gratia of Rs 5 lakh to legal heirs of each depositor who committed suicide. The government has issued a GO (No 80) sanctioning compensation amount.
Further the government said that the legal heirs of deceased persons will have to prove that they have deposited money with the AgriGold group of companies by furnishing the documents viz., copy of FIR, death certificate, post-mortem certificate, proof showing relationship of the beneficiary with the deceased, legal heir certificate, date of birth certificate ( if Beneficiary is minor), affidavit filed by legal heir of the deceased explaining cause of death before the authority.
The ex gratia will be released by the concerned District Collector after the scrutiny committee headed by the District Superintendent of Police conducts an enquiry and furnishes a report in this regard, the government said.According to the GO, the Director General of Police, AP, has stated that the AgriGold Group of companies have collected deposits offering high rates of interest or with a promise to register a piece of land in lieu thereof.
However, the Group has neither repaid the deposits to the depositors nor did they register any land in the depositors’ names.
Based on the complaints of aggrieved depositors, several cases have been registered at various police stations in the state.
Later, those cases have been transferred to Crime Investigation Department (CID) for further investigation.
During the CID investigation, it was revealed that AgriGold Farm Estates India Pvt. Ltd., and other group of companies was started by Avva Venkata Rama Rao and others in Vijayawada during the year 1995.The accused company collected deposits amounting to Rs 6,380 crore from around 32 lakh depositors from all over the country. The company also defaulted to a tune of Rs 500 crore to various banks.
Further, the cheques issued by the company worth around Rs 700 crore were dishonoured by various banks. The default by the AgriGold Group created widespread distress and panic among lakhs of depositors who lost their life time savings, having deposited in the company. It was also reported that some of the aggrieved depositors/ agents have committed suicide, since they have lost all hopes of recovering their hard earned money.
