AP seizes the assets of Abhaya Gold and Agri Gold
At last, the Andhra Pradesh government has seized the assets of the controversial financial institution-Abhaya Gold Infratech India and Agri Gold India Pvt Ltd on the recommendations of the CB CID which had been probing the money spinning racket in Vijayawada.
The government confiscated the assets which include the land of 16,850 acres of Abhaya Gold in the areas of Kurnool (1285 acres), Nellore (3312 acres), Anantapur (1633 acres), Prakasham (6239 acres), Mangalagiri (85 acres) and Krishna district (2037 acres). This fraudulent company established by VR Rao, who was a former key person in the other fraudulent company called Golden Forest Ltd.
These two companies never acquired the permissions form the Reserve Bank of India and spread their business through illegal promotions and looted the money of people for their self interests.