Overview

• On June 13, the Enforcement Directorate handed over ₹611 crore worth of attached properties to the Andhra Pradesh CID following the court’s restitution approval
• The latest transfer raises the cumulative restituted assets in the case to ₹3,950 crore out of more than ₹4,141 crore seized since the 2018 Agri Gold probe
• Among the 397 immovable properties cleared for distribution are agricultural parcels, residential plots and commercial sites located across Andhra Pradesh, Telangana and Karnataka
• The Agri Gold group allegedly duped around 32 lakh investors by collecting real estate-linked deposits and diverting funds into unrelated sectors such as energy, dairy and entertainment
• Promoters Avva Venkata Rama Rao, Avva Venkata Seshu Narayana Rao and Avva Hema Sundara Vara Prasad were arrested in December 2020, and charges have been filed against 36 individuals