BRIEF NOTE ON AKSHAYA GOLD CASE


Akshaya Gold Farms and Villas India Pvt. Ltd:

The accused have collected money and issued certificates promising high returns or  a piece of land in lieu of the deposited amount, on square feet/unit basis.  There is no demarcation of land for the depositor against their deposits as promised by the company.  The accused company has collected deposits worth Rs. 735 Crores from 15.94 Lakh depositors in various states of India.

Total Depositors in AP                                            :  10.11 lakhs

Amount collected by the Company in AP           : Rs. 335.75 Cr. (approximately)

The following 19 cases have been registered against them and all are being investigated by the CID, Andhra Pradesh.

  1. Cr. No. 23/x/2013, U/Sec. 420,IPC & Sec.5 of A.P.Protection of Depositors & Financial establishment Act 1999  of Kurnool CCS PS, Kurnool District.
  2. Cr. No. 27/x/2013 , U/Sec. 420,IPC & Sec.5 of A.P.Protection of Depositors & Financial establishment Act 1999  of Kurnool CCS PS, Kurnool District.
  3. Cr. No. 5/x/2013, U/Sec. 420,IPC & Sec.5 of A.P.Protection of Depositors & Financial establishment Act 1999  of Kurnool CCS PS, Kurnool District.
  4. Cr. No. 6/x/2013, U/Sec. 420, 506 ipc & Sec. 156 Cr.P..  of Kurnool CCS PS, Kurnool District.
  5. Cr. No. 227/2013, U/Sec. 420,403,426 r/w 34 IPC & Sec. 156(3) Cr.P.C. of Adono-II Town PS, Kurnool District.
  6. Cr. No. 138/2013, U/Sec. 420 IPC  Sec.3 &5 of APPDFE Act 1999. of Adono-II Town PS, Kurnool District.
  7. Cr. No. 6/2014, U/Sec. 420 , 406, 120 (B) IPC and Sec. 5 of APPDFE Act 1999  and Sec. 58 (b) of RBI Ac t of 1934  of Peddapappuru PS, Anantapuram District.
  8. Cr. No. 91/2013, U/Sec. 420 IPC and Sec. 5 of APPDFE Act 1999  of Kalyandurg Town PS, Anantapuram District.
  9. Cr. No. 89/2012, U/Sec. 420 IPC, Sec. 4 & 5 r/w 2© of PCMCS (B) Act, 1978 & Sec.5 of APPDFE Act, 1999 of Ongole I-Town PS, Prakasham District.
  10. Cr. No. 299/2013, U/Sec. 420 IPC, Sec.5 of Depositors of Financial EstablishmentAct, 1999  of Pattabhipuram PS, Guntur (U) District.
  11. Cr. No. 132/2012, U/Sec. 420 IPC, Sec. 4 & 5 r/w 2© PCMCS (B) Act, 1978 & Sec. 5 of APPDFE Act, 1999 of Chirala I-Town PS, Prakasham District.
  12. Cr. No. 70/2013, U/Sec. 420 IPS & Sec. 4, 5 r/w 2 (iii) of PCMCS (B) Act, 1978 and Sec. 5 of APPDFEA, 1999 of Jaggaiapet PS, Krishna District.
  13. Cr. No. 61/2013, U/Sec. 420, 406 and Sec. 5 of APPDFE Act 1999 of Tenali-I Town PS, Guntur ® District.
  14. Cr. No. 62/2013, U/Sec. 420, 406 and Sec. 5 of APPDFE Act 1999 of Tenali-I Town PS, Guntur ® District.
  15. Cr. No. 63/2013, U/Sec. 420, 406 and Sec. 5 of APPDFE Act 1999 of Tenali-I Town PS, Guntur ® District.
  16. Cr. No. 64/2013, U/Sec. 420, 406 and Sec. 5 of APPDFE Act 1999 of Tenali-I Town PS, Guntur ® District.
  17. Cr. No. 182/2013, U/Sec. 420, 406 and Sec. 5 of APPDFE Act 1999 of Chilakaluripet(U) PS, Guntur ® District.
  18. Cr. No. 188/2014, U/Sec. 120-B,409,420 IPC & 5 of APPDFE Act, 1999 & 156(3) of Cr.P.C. of Bhimadole  PS, West Godavari District.
  19. Cr. No. 328/2013, U/Sec. 420, 406 IPC, Sec. 5  of APPDFE Act, 1999, Sec.4, 5 & 6 r/w 2(1), 3 of Prize Chits and Money Circulation Scheme (Banning) Act, 1978  of Visakhapatnam-IV (T) PS, VSP City District.

The following persons were arrested and remanded to judicial custody.

K. Srinivas

Marriboina Venkaiah

Devaki Harinath Babu

Andela Srinivasulu

Shaik Lathif Basha

Maliga Mahaboob Basha

Shaik Mugeeb Basha

Krishna Murthy

S. Shaik Kaja Vali

K. Siva Kotaiah

C. Ramalengeswara Rao

Properties (immovable and movable) have been attached vide orders:

G.O.Ms. No. 160, Home (ARMS & SPF) Department, dt. 05-12-2014.

G.O.Ms. No. 125, Home (Genl.A2) Department, dt. 11.08.2015.

Petitions have been filed in Special Court, Ongole, Prakasam District for making the above GOs absolute.

 

Related G.O's


Akshaya Gold - GO Ms No. 160, dt. 05-12-2014.PDF
Akshaya Gold - GO Ms No. 125, dt. 11-08-2015.PDF