Agri Gold Benami (Anonymous) Companies in Media

Unknown March 01, 2019

Agri Gold Benami (Anonymous) Companies in Media Around 3.2 million people in many states, including Andhra Pradesh, Telangana, Tamil Nadu and Karnataka, were duped by AgriGold scam, which came to light in 2014. The Agri Gold company lured several lakh customers on the promise that their investment would come back to them with the higher returns. The company allegedly took the money (more than Rs 7,000 Cr) and invested heavily in real estate, and finally duped the customers. Yet, the bigwigs of the company are able to get away without any arrests or prosecution. Everything is as usual with the Agri Gold Company.

Though CID has taken up the investigation thanks to the intervention of the High Court and arrested couple of Agri Gold directors, who were out on bail within no time. Few years ago, YSR Congress party president Y S Jaganmohan Reddy raised this issue in the Assembly and pointed out that TDP Party leaders had bought huge chunks of land of the Agri Gold through benami transactions and that is why, the government was not taking any action against the company management.

Agri Gold has been making impressive forays into different sectors. Pushpa Television Private Limited is an unlisted private company incorporated on 13th December, 2010. The company has 3 directors- Sitaramarao Avva, Katigari Srinivasulu Reddy and Pushpalatha Avva. Sitaramarao Avva has the largest number of other directorships with a seat at a total of 18 companies.

Aspiration Media Private Limited is also a private company incorporated on 30th April, 2010. The company has 2 directors. Pushpalatha Avva was appointed on 11th November, 2011. She has been working for the company for more than 7 years. Last year on 3rd April, 2018, the company appointed a new director- Avva Himaja.

Is ED ( Enforcement Directorate) know about these benami companies? Are the criminals allowed to get trademarks in India?