HYDERABAD: State CID officials will coordinate with their Andhra Pradesh counterparts in connection with the ` 6,380-crore Agri gold scam that is being investigated by AP CID officials.
TS CID officials are likely to write to land registration officials, asking for a report on the company’s properties and owners in Hyderabad and other districts of the state.
Since the company has lakhs of customers (depositors) in Telangana and has properties in Hyderabad and other parts of the state, AP CID officials have held a meeting with TS CID officials and explained the case details and progress of the investigation.
After meeting with AP CID officials and obtaining details, TS CID officials will form special teams to look into the Agri Gold cases by accepting complaints from depositors in Telangana and to locate the properties of the accused.
Ch Dwaraka Tirumala Rao, AP’s additional DGP (CID), whose office is located on the TSPA premises in the city, and around ten special teams are investigating the case. He told Express that they explained the case, properties of the accused in Hyderabad and other districts of Telangana and the details of customers to TS CID officials.
“We want to expedite the investigation for doing justice to the depositors as per court directions. After we have identified the properties of the accused at various places in AP, we have found lakhs of customers have deposited in Agri Gold’s projects and the management has also properties in Telangana,” said Tirumala Rao.
TS CID was told that the company had collected more than ` 6,380.48 crore from 32,02,628 depositors (including in Telangana and Bangalore) promising huge returns at high interest rates or provide them plots after developing land as plots.
Telangana’s additional DGP (CID) Govind Singh said they would coordinate with AP CID officials keeping in mind the interests of lakhs of depositors in Telangana. The company has huge properties in the state and CID officials would locate them.
According to AP CID officials, they collected a list of 32,02,628 depositors from the digital data available with the company. In AP there are 19.52 lakh depositors. Of them, 13.83 lakh have deposited less than ` 20,000 each, amounting to ` 1,182.17 crore. The company’s balance sheets for 2011-12, 2012-13 and 2013-14 were also obtained.
AP police registered cases against Agri Gold in 2015 following complaints and, later, transferred the case to the CID for investigation.