Bengaluru: Nearly a decade after the collapse of the AgriGold investment scheme left lakhs of investors across southern India awaiting the return of their hard-earned money, a fresh verification drive launched by Andhra Pradesh govt in coordination with Karnataka CID has renewed hopes of a breakthrough for victims.
The centres will function from 10 am to 5 pm every day except Sundays, according to an official release by the Karnataka police. The verification drive is scheduled to continue through Nov, with the Bengaluru City centre set to operate from Oct 27 to Nov 6. In Bengaluru, investors can visit the office of the DGP, CID, at Carlton House on Palace Road, near Maharani College, from Oct 27 to Nov 6. Deputy superintendent of police Ravi CV has been designated as the contact officer and can be reached at 9448530601. The issue came to light in late 2014, when investors began facing difficulties in receiving their maturity payments.
As complaints poured in from investors and agents across multiple states, police launched investigations, followed by raids and the arrest of key management personnel.
Senior police officials said the exercise provides an opportunity for investors who have preserved their original bonds and receipts over the years to have their documents formally verified. The verification drive is being coordinated by a dedicated group of ministers appointed by Andhra Pradesh govt. Following discussions between the Director General of Police of Andhra Pradesh CID and Pronab Mohanty, IPS, Director General of Police, Karnataka CID, special teams have been constituted to streamline and oversee the verification process. However, the verification process does not guarantee immediate repayment. Investors will have to await further instructions from the authorities regarding the next steps in processing their claims and the eventual disbursement of funds. Regional verification centres have also been set up at district police headquarters in Tumakuru, Mandya, Bagalkote, Udupi, Raichur, Dakshina Kannada, Chikkaballapura and Hassan. Each centre will cater to investors from two or three adjoining districts. In cases where the depositor has died, the nominee must produce the death certificate. If both the depositor and the nominee are deceased, the original death certificates of both must be submitted for verification. The alleged financial irregularities subsequently became the subject of a prolonged legal and investigative process.