The is the biggest fraud being investigated by the CID, AP.

                        Total Depositors                                        :         32 lakhs                       

                        Andhra Pradesh                                        :          19.52 lakh

                        Amount cheated by the Company      :         Rs.6,380 crores.

                        Andhra Pradesh                                        :          Rs.3,966 crores.                                                     

 As of now, the following 6 cases have been registered on them and all are being investigated by the CID, Andhra Pradesh.

1) Cr.No.3/2015 u/s 120(b), 420 IPC, Sec.45 of RBI Act & Sec.4 of PCS &  

    MCS (B) Act, 1978, Sec.5 of APPDFEA, 1999 of Pedapadu PS of West Godavari District.

2) Cr.No.378/2014 u/s 120 (b), 406, 420 IPC & Sec.5 of APPDFEA, 1999 

    of Nell ore III Town PS of Nellore District.

3) Cr.No.4/2015 u/s 406, 420, 506, 509 r/w 34 IPC & Sec. 5 of APPDFE  

    Act, 1999 of Nandyal I Town PS of Kurnool District.

4) Cr.No.6/2015 u/s 406, 420 r/w 34 IPC of Madanapally II Town PS of  

    Chittoor Distict.

5)  Cr.No.31/2015 u/s 420, 508, 197 IPC and Sec.156 (b) of Cr.P.C., of

     Chinn Chowk PS of YSR Kadapa District.

6)  Cr.No.7/2015 u/s 406, 420 IPC and Sec.5 of APPDFE Act, 1999 of II

     Town L&O PS of Rajahmundry.

The following persons were arrested and remanded to judicial custody.

  1. AvvaVenkata Rama Rao, Chairman
  2. Avva Venkata Seshu Narayana Rao @ Kumar, MD
  3. E.S.S.V. Prasad, Vice President.
  4. K.Ramachandra Rao, Director.
  5. P.L.A.Khan, Director.

Properties (immovable and movable) have been attached under the following orders:

  1. G.O.Ms.No.22 Home (Arms & SPF) Department, Dt.20.2.2015
  2. G.O.Ms.No.23 Home (Arms & SPF) Department, Dt.20.2.2015
  3. G.O.Ms.No.73 Home (General-A2) Department, Dt.5.6.2015
  4. G.O.Ms.No.21 Home (General-A2) Department, Dt.29.2.2016

Ad-interim orders were made absolute by the Special Court, Eluru in the above GOs.  CID was taking steps to carry out auction of the above properties in order to distribute the amount to the victim depositors.

In the meanwhile, Telangana Agri Gold Customers and Agents Welfare Association filed a PIL in the Hon’ble High Court for speedy disposal of the amounts.  Hon’ble High Court has constituted a Committee under the Chairmanship of Hon’ble Justice Surya Rao. (On his sudden demise, Hon’ble Justice Seethapathi Rao (Retd.) is appointed in his place.)  This Committee is taking steps to conduct auction of the above attached properties.

The Government of Andhra Pradesh, in general and CID, AP, in particular is extending all cooperation to the Committee appointed by the Hon’ble High Court in the task

Related G.O's and Note

Note on Agri Gold.pdf
GO MS No. 22 - Movable.pdf
GO MS No. 23 - Immovable - Lands.pdf
GO Ms No. 73 - Other States.pdf