BRIEF NOTE ON SIRI GOLD CASE


Siri Gold Farms &  Estates Pvt. Ltd.,

The Managing Directors and Directors of the company cheated the gullible public with dubious words, collected deposits by promising them payment of huge rate of interest and thereafter they misappropriated the amount and closed the firm.  The management started its business with 500 agents in the year 2008; 1500 agents in the year 2009; 3500 agents in the year 2010; 5000 agents in the year 2012 and collected Rs. 95 Crores from 45,000 subscribers in AP.

Total Depositors                                           :         45,000

Amount collected by the Company         :         Rs. 95 Cr.

The following 08 cases have been registered against them and all are being investigated by the CID, Andhra Pradesh.

  1. Cr. No. 118/2014 , U/Sec.  420, 406, 120(b) 114, 201, 202  r/w 34 IPC and Sec.5 of APPDFE Act,1999 and Sec.4 of Prize Chits and money Circulation Act, 1978   of Gudur I Town PS. PS, Nellore District.
  2. Cr. No. 117/2014 , U/Sec. 406, 420, 120(B) r/w 34 IPC and Sec.4 ofPrize Chits and money Circulation Scheme (Banned) Act  of Kaligiri PS. PS, Nellore District.
  3. Cr. No. 9/2014, U/Sec. 406, 420, 120(b) IPC and Sec.5 of APPDFE Act, 1999   of Kavali-II Town  PS, Nellore District.
  4. Cr. No. 16/2014, U/Sec. 420, 406 IPC and Sec.5 of APPDFE Act, 1999  of Nellore III Town PS. PS, Nellore District.
  5. Cr. No. 5/2014, U/Sec. 406, 420 r/w 34 IPC and Sec.5 of APPDFE Act, 1999  &Sec.4of PC&MCA Act.of kavali-I Tiwn PS. of Kavali-I Town PS. PS, Nellore District.
  6. Cr. No. 6/2014, U/Sec. 420, 406, 120(B) 114, 201, 202, 212 r/w 34 IPC and Sec.5 of APPD Fin. Est. Act, 1999 and Sec.4 of Prize Chits and money Circulation Act  of Kavali Rural PS. PS, Nellore District.
  7. Cr. No. 10/2014 , U/Sec.  420 IPC and Sec.5 of APPDFE Act, 1999   of Atmakuru PS PS, Nellore District.
  8. Cr. No. 66/2014 , U/Sec. 406, 420, 120(b) r/w 34 IPC and Sec.4 of PC & MCSB Act 1978   of S.R. Puram PS, Nellore District.

The following persons were arrested and remanded to judicial custody.

Vela Sundaram

Aratipamula Ramesh Babu

 Marriboina Venkaiah

P. Sudhakar

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

G.O.MS.No. 131, Home (General) Department, dt. 27-08-2015

G.O.Ms.No. 6, Home (General) Department, dt. 25-01-2016

Petitions have been filed in Special Court, Tirupati for making the above GOs absolute.

Related G.O's


Siri Gold - GO Ms No. 6, dt. 25-01-2016.pdf
Siri Gold - GO Ms No. 131, dt. 27-08-2015.PDF