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AgriGold Chairman & MD sent to 14 days Remand
By: Tupaki Desk | 13 Feb 2016 11:50 AM GMT
A Sessions Judge Hariharanadha Sarma on Friday sent Avva Venkata Rama Rao (AgriGold Chairman & Chief Managing Director) and his brother Avva Venkataseshu Narayana (AgriGold Chairman Managing Director) to 14 days judicial remand after being produced at a court in West Godavari on Friday. Upon making them undergo medical check-up, They were shifted to the district jail in Eluru.
On Thursday night, Avva Brothers were taken into custody by police based on the complaint filed by the depositor's kin.
Ghatansala Venkatesh who is a native of Vaddigudem filed complaint in January 2015 accusing Avva Brothers of not repaying the Fixed Deposits of his 80-Year-Old Grandmother. The elderly woman deposited Rs 10,000 believing the promise of AgriGold that her amount will be doubled in 10 years. However, The cheque they have given in January 2014 bounced due to insufficient funds. So, The complainant has filed a case seeking action against AgriGold for alleged cheating.
On Thursday night, Avva Brothers were taken into custody by police based on the complaint filed by the depositor's kin.
Ghatansala Venkatesh who is a native of Vaddigudem filed complaint in January 2015 accusing Avva Brothers of not repaying the Fixed Deposits of his 80-Year-Old Grandmother. The elderly woman deposited Rs 10,000 believing the promise of AgriGold that her amount will be doubled in 10 years. However, The cheque they have given in January 2014 bounced due to insufficient funds. So, The complainant has filed a case seeking action against AgriGold for alleged cheating.
