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AgriGold assets to go under hammer
Vijayawada: Andhra Pradesh Police department has started the process of auction of AgriGold properties under the purview of High Court, said Director General of Police (DGP) N Sambasiva Rao.The investigation department CID has issued a notification for inviting bidders to participate in the auction programme, he said.The DGP disclosed the details of auction of AgriGold properties at his camp
Vijayawada: Andhra Pradesh Police department has started the process of auction of AgriGold properties under the purview of High Court, said Director General of Police (DGP) N Sambasiva Rao.
The investigation department CID has issued a notification for inviting bidders to participate in the auction programme, he said.
The DGP disclosed the details of auction of AgriGold properties at his camp office in the city on Saturday. The police top boss said that the sealed covers are to be sent to the High Court on or before December 26 and the sealed covers will be opened in the High Court on December 27.
The DGP said that on the direction of High Court, 341-acre at Keesara in Kanchikacherla Mandal in Krishna district and eight properties in the Vijayawada city have been identified for auction. All these properties were divided into 24 parcels for auctioning, he added.
The government is expecting Rs 2,200 crore after disposing the 17,000 acre in Andhra Pradesh and 3,200 crore in Telangana, Karnataka and Tamil Nadu, he said.
In this connection the High Court decided to sell 24 parcels of assets for first time, the DGP said.
The government motive is to sell the properties and distribute the amount to those who are in the range of Rs 20, 000 below depositors, he said. If this would have been done, 80 percent of the depositors would get justice in the case, he added.
The investigation department and competent authority CID officer would provide special arrangement for the buyers to inspect the properties before December 18, said DGP.
Sambasiva Rao appealed to bidders to participate in the auction without any apprehensions since it would be a free and fair auction.
He made it clear that the bidders should pay one percent of the amount of the bidding value.
Sambasiva Rao appreciated competent authority CID for doing investigation within one year.
The CID has registered seven cases against AgriGold companies and identified 19,18,882 depositors cheated by having 32,02,607 accounts and defrauded Rs 6,380.48 crore,
he said.
Referring to Andhra Pradesh, he said 11,57,503 depositors having 19,52,256 accounts were cheated to the tune of Rs 3,966 crore, the DGP said.
The CID seized various properties of the company and got them attached by the government, he added.
Additional DGP (CID) Ch Dwaraka Thirumala Rao, SP Bhoopal participated in the press meet.
