VIJAYAWADA: The Andhra Pradesh Crime Investigation Department (APCID), which is investigating the multi-crore AgriGold scam, has found that the accused company sold 3.10 acres of land illegally, by hiding facts from both the CID and courts.
During the investigation conducted by DSP (CID) Ramarao, it was found that the company purchased 3.10 acres of land in two survey numbers on the outskirts of Nambur of Pedakakani mandal in Guntur district. The property was registered in the names of Vertex Real Estate Private Limited and one Bonthu Srinivas Reddy in 2014 soon after depositors filed complaints against the group for failing to return their deposits.
“The accused hid the details of the property from the court. During our field-level verification, we came to know about the property in prime location. It is found that property was transferred to others,” said a senior official in the investigating team. The investigating team collected details of the land transaction from Peddakakani Tahsildar office on Saturday to take necessary action against the accused.
“The 3.10 acres of land in survey numbers 175(B) and 178 are worth around Rs 30 crore in open market. Of the total, 1.60 acres are registered in the name of Vertex Limited and the remaining 1.50 acres in Srinivasa Reddy’s name. It is illegal to conduct land transactions when the company’s case is under the court’s purview. The registration will be cancelled and the land will be auctioned,” the official added.