AgriGold accused granted bail

Friday, May 13, 2016

A local court here today granted bail to the accused in AgriGold scam. The court granted conditioned bail to AgriGold Company chairman Avva Venkata Rama Rao and managing director Avva Venkata Seshu Narayana.

They have been ordered to be present before the CID officials on every Thursday and Sunday. They have to submit a personal surety of Rs.5 lakh each along with two sureties to like amount. The court faulted the CID and failed to submit the charge sheet within the stipulated time.

It may be recalled that there were in judicial custody since February 12, 2016 on the charges of cheating people and collecting deposits from them. The accused are facing charges in 18 cases in Karnataka State, in Nellore.

Sources said that even though, the accused got bail in Eluru court but have to be in jail since they are facing charges in Karnataka State.

Meanwhile, Agri Gold Customers and Agents Welfare Association announced that they would organize dharnas in front of all Collectorates on May 18 in protest against granting bail.

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