ELURU: District Principal Sessions Court here on Thursday remanded Avva Sita Rama Rao, former director of AgriGold, in judicial custody for 14 days. CID officials made the arrest of Rao in Gurgaon, near Delhi. He is the 16th accused in the multi-crore scam. Chairman, managing directors and some other directors of AgriGold were already arrested and are now in judicial custody in the District Jail at Eluru.
The CID officials brought Rao to Eluru within 48 hours of arrested and produced him before the District Principal Sessions Court. The Sessions Court, after hearing the public prosecution’s argument, sent Rao to judicial remand.
Sita Rama Rao had been at large for the last three days and the CID police finally traced him at Gurgaon. They seized some valuable documents from his house after arresting him. The charge-sheet filed against him by CID stated that he had transferred AgriGold properties to the names of benamis. He served as director of AgriGold from 1997 to 2013. There were allegations that Sita Rama Rao had created hurdles for ESSEL company to take over AgriGold company.