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SC sends notices to AgriGold directors out on bail

Tue, Jul 05, 2016, 03:32 PM
The Supreme Court on Tuesday issued notices to three directors of AgriGold, who recently came out on bail, and the Andhra Pradesh CID in connection with a plea before it to cancel the bail for the accused whose company had looted thousands of crores from the public in the southern States.

AgriGold had acquired thousands of crores from the public as deposits but at the time of redemption there were no payments. This had put the savings of thousands of people in jeopardy.

The depositors then went to police stations and lodged complaints with the police. There was a long delay in filing of cases against the accused. But soon after they were taken into custody, the directors came out on bail.

The aggrieved people approached the Supreme Court pleading for cancellation of the bail. The court sent notices to three AgriGold directors who are out on bail and also AP CID officers who investigated the case.
Agency: Ap7am Desk
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