Will state government pay AgriGold victims, asks Telangana HC- The New Indian Express

By Express News Service

HYDERABAD:  The Telangana High Court on Saturday asked the State government whether it would be releasing funds to the victims of the AgriGold scam. 

A bench comprising Justice A Rajasekhar Reddy and Justice T Vinod Kumar was hearing a writ petition filed by Ravikanth Sinha, one of the victims of the Ponzi scheme, who was seeking direction to the High Court Registry to release the money equivalent to the deposits made by him, after duly verifying the bonds issued by AgriGold.

The petitioner informed the court that he had deposited Rs 26 lakh in the company after his retirement. He told the court that he had approached the Rachakonda Commissioner of Police and lodged a cheating complaint against AgriGold. 

“Based on my complaint, an FIR was registered at the Uppal police station. On the orders of this court, the money was placed under the name of the Judicial Registrar of this court in a bank situated on the court premises. But even after six years, I have not received my money – neither from the government nor the court,” he said.

The petitioners counsel informed the court that the Andhra Pradesh government had released `900 crore to repay the victims of the scam. “The victims in Telangana have not been paid yet,” the counsel said.

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