Of late, Agrigold has been in the news for all the wrong reasons. The company was accused of flouting RBI norms in collecting deposits and then failing to repay the same to the public.
The State government responded immediately and ordered a CID inquiry into the incident. So swift was the intervention of the Andhra Pradesh government that it took everyone by surprise. Since then, though there has been no news at all of Agrigold in the mainstream media.
Agrigold in order to pay back its depositors has to sell its assets, the value of which far exceeds that of its debt.
“Some people have been eyeing Agrigold for a long time. The present crisis is an outcome of their mischief,” said the owner of Agrigold in a television interview.
The assets of Agrigold have hugely multiplied in value thanks to the bifurcation and their location to the new capital region. Especially, ‘Hailand Resorts’ which belongs to Agrigold has seen a tremendous leap in valuation.
A one stop resort for all kinds of activities, ‘Hailand’ which is located between Guntur and Vijayawada is now a highly prized possession.
Political circles are abuzz with the rumor that Hailand has now been taken over by a veteran MP of Telugu Desam and a man who is neither an MP nor an MLA in TDP but who wields a lot of clout. If the name of Agrigold is dropped from Hailand in the near future, then the gossip can be confirmed as true.
