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AP CM Testing Agri Gold Depositors Patience


The Chandrababu Naidu government seems to be virtually testing the patience of the depositors of tainted Agri Gold group, which had looted their hard-earned money worth crores of rupees. Though the government had given an undertaking to the court that it would auction the assets of the Agri Gold group to repay the money to the depositors, it has been dodging the same in the name of the court cases.

The CID authorities arrested the chairman and a director of the company, but has not taken any step to recover money from them. On Friday, the Naidu government told the High Court that it would auction some of the assets of the tainted company. And the value of the assets is pittance – just Rs 100 crore, whereas the dues to be paid to the depositors are more than Rs 7,000 crore. That, too, the auction would be held in April third week.

It is not clear even this Rs 100 crore would be distributed among the depositors or transferred to the court account, pending auction of other assets. If this is the pace of the investigation, one doubts the depositors would get their money in their life time. In any case, the assets of the Agri Gold would be acquired by benamis of the big politicians at a cheaper rate by manipulating auctions!

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