AgriGold Chairman, MD Arrested

Published: 12th February 2016 06:22 AM  |   Last Updated: 12th February 2016 06:22 AM   |  A+A-

VIJAYAWADA: CID sleuths have arrested AgriGold chairman Avva Venkata Rama Rao and managing director Avva Venkata Seshu Narayana Rao, in Vijayawada, Thursday late night, in multi-crore economic offence case.

According to reliable sources, the duo was called for inquiry to the CID office, on Thursday morning, and after questioning them for over eight hours, their family members were informed later in the evening that two accused were arrested.

Rama Rao is accused number two, while his brother Seshu Narayana Rao is accused number 4 in the multi-crore financial fraud that came to light nearly three years ago. With thousands of complaints from across the state and other parts of the country, state government had entrusted the case to CID.

Recently, High Court had observed that the investigative agency dealing with the case is doing a poor job of investigation. Following the court’s observation, the arrests of the two key accused were made. The duo is likely to be produced in Eluru court on Friday.

Stay up to date on all the latest Andhra Pradesh news with The New Indian Express App. Download now


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp