AgriGold victims demand official committee to address their issues

AgriGold Customers and Agents Welfare Association seeks government intervention to resolve issues and protect assets worth ₹7,000 crore.

The AgriGold Customers and Agents Welfare Association has urged the State government to constitute a committee of competent officials to bring their members’ issues to a logical conclusion.

The association also requested the government to protect the 23 acres of AgriGold assets and bring them under government control. 

Addressing a press conference here on Friday, February 7, the association’s honorary president and CPI State joint secretary Muppalla Nageswara Rao said that AgriGold collected deposits worth ₹7,000 crore from 3.2 million people in eight states. The company purchased thousands of acres of land for housing plots and established shops and industries. Later, the company shut down, leading to protests, after which the government took control. “However, the ownership of all assets remains with them, and it’s known that some influential politicians are selling benami assets for personal gain,” he said.

The association plans to hold extensive State committee meetings in the Amaravati region to collect information on AgriGold assets in all districts. “We will submit a petition to Chief Minister N. Chandrababu Naidu. If the government fails to form a committee or provide a timeline, we will have no choice but to resort to protests,” he added.

Association State secretary V. Tirupathi Rao stated that it has been 11 years since AgriGold closed down. The CID has taken control of approximately 16,000 acres, including 3,300 acres in Nellore and 6,600 acres in Prakasam district.

The 250 acres under CID control in Varikunta mandal of Nellore, are valued at ₹10 crore. Despite receiving information that trees worth ₹30 lakh were being chopped down, the Mandal Revenue Officer there did not respond. The government must intervene, he added.