AgriGold victims to get back deposits with interests: Andhra HC
A three-member committee headed by Retired Justice Seethapathi has ordered for the auctioning of properties owned by the AgriGold Company.
The money collected from the auction will be deposited in an account opened in the High Court Registrar’s name. The money will then be transferred in the accounts of respective victims, based on the list prepared by the three-member committee. The victims will also get their money with interests, said the court.
The Amravati-based company, which has its offices in Karnataka, Tamil Nadu, Andhra Pradesh and Odisha among others states is believed to have duped people of Rs 6,500 crores.
The company reportedly ran a scam by promising to allot properties to all those who invested in various subsidiary companies of AgriGold. Around 32 lakh people in Karnataka, Tamil Nadu, Andhra Pradesh and Odisha are believed to have been conned by the company.
In Karnataka alone, the company owes Rs 1,700 crore to 8.62 lakh people.