Monday, 31 May 2010

Agrigold is another cheating company indulging in money circulation scheme

Agrigold, an AP-based company is spreading its tentacles fast through the State of Andhra Pradesh. Its owner Mr V R Rao is a former employee of now extinct Golden Forest Ltd, which vanished with several hundreds of crores of public money with the promise of easy and quick money and now facing criminal cases. It never returned the deposits it collected from public with the promise of high returns. Its representatives then claimed that it has huge tracts of land all over India and there is no threat to their deposits with the company. They never revealed that the company has no permission from the Reserve Bank of India to collect deposits from public.
Now, Golden Forest's employee is enacting the same drama and collecting deposits from public. The promise is same. The company owns several hundreds of acres and if necessary it would be sold to repay the depositors. This company also has no permission from the Reserve Bank of India.
Not surprisingly, these depositors are from the lowest strata of the society. The daily wage earning labourers are induced to deposit as low as Rs. 10 per day on the promise of a piece of land in near future. The representatives who get huge commissions on these deposits which amount to 30 per cent, never reveal that there is actually no sufficient land on earth to allot pieces of land to all these depositors. Moreover, many of these depositors stop paying after some time and the company never refunded these amounts to them. If someone asks, they threaten that the company would deduct penalty from the deposit. Several hundreds of crores of these deposits remained unclaimed with the company.
Like Amway India, the Agrigold also has several levels of fancy titles for its representatives. It offers attractive commission to them for mobilising deposits. The lowest level representative is called primary sales distributor and above him are senior sales distributor, executive sales distributor, marketing and sales distributor, marketing regional distributor, marketing area distributor, area super distributor, area super distributor-1, area super distributor-2, area super distributor-3, area super distributor-4 and area super distributor-5.
Right from the primary sales distributor, every one has to enroll ten members and depending upon the enrollment, the commission keeps on going up. From the 4th level onwards the title holders would get easy money, consisting of benefits of supervisor and group income which purely depend on the enrollment of new members into the scheme and not depend on the sale of products. And what product--a piece of land. The promoters know pretty well that if one person enrolls ten persons, at one point world population will be over and due to mathematical impossibility, crores of people would be cheated.
Recently, as part of its expansion, the Agrigold has added an amusement park in its kitty with the name 'HaaiLand' which was inaugurated by the Honourable Chief Minister of Andhra Pradesh, Mr K Rosaiah.
The Agrigold has already forayed into several manufacturing units including Ayurveda medicine, easy-cook instant foods, cosmetics, spa and yoga centres. All these were started with people's. In case of failed activity in any of these ventures, they need not worry about loss. Just they need not repay the deposits.
If all these ventures are profitable, the Agrigold could approach commercial banks and raise loans. But it has chosen to raise deposits from the gullible poor who cannot question or demand their monies back.

93 comments:

the said...

In vijayawada a new company called AEGIS(www.aegisgroup.co.in) had started the same business like Agrigold collecting money from the public showing that we had a lot of land to protect your deposits but the fact is the company don't have even an acre of land i suggest you to take a call on this new company also

Prasanna said...
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Prasanna said...
This comment has been removed by the author.
Mahesh said...

Agrigold has several business like Power, Tourism, Infrastructure and Agri business are the Core Segments of the Group. The Group is emerging as a 'Conglomerate Tower' on the Strong Foundation of achieving in Togetherness and celebrating the Success in Oneness. I was deposited 100000 in 2005 and I have received back 1,35,000 . It is not fraud. It is improving business by collecting money by public and not from share.. You can contact Government of Andra Pradesh to get its land information . Also, please give me one example who got cheated from it.

corporate frauds watch said...

My dear Friend, For the simple reason that there are no complainants does not make a wrong a right. Collecting deposits from public without authorisation from the Reserve Bank of India is a crime. There is no security for public's money. Don't you think that itself is cheating public.

bhamidipati said...

It is very easy to misguide a common man by saying that this company has not taken permission from RBI, but show me one example of cheating case by this company. And it is very wrong that only poor people care depositting money, lot of industrialists, educated people also depositting money. So why you are not complaining to the Govt of AP about the company directly ? (If you got so much knowledge).

corporate frauds watch said...

Onus Probandi i.e. burden of proof lies with AgriGold. It has to prove that it has the permission of RBI to collect deposits from public. When Corporate Frauds Watch lodged a criminal complaint against the AgriGold, the company did not contest the case but preferred to tone down the case. Even a top IPS officer tried to interfere to withdraw the case.Why not let the police investigate the case and find out the truth.
It is the rich and upper middle class people only deposit their money with the unauthorised persons or entities due to their greed tp earn more interest on their deposits. More often than not they lose their deposits. There are several instances in Andhra Pradesh.

Sankar said...

I was approached severals times by well meaning friends to invest in this company and reap 12% and above returns. I was very skeptical and decided to investigate further. I visited Agrigold site and there is no mention of any money gathering from public. I found it very surprising. Second,the web site itself is utterly unprofessional lacking any real substance i.e without mention of any complaince to govt norms. It does not reveal any names (saving VR Rao's name in the home) of people behind it and their professional expertise. Thanks to corporatefraudwatch, i am staying away from this. This is a disaster waiting to happen. Many innocent depositors will loose their hard earned money. Pity that despite filing a case, there is no check on this scam under way.

yashodha said...

Hellow sir i had read what you gave. one thing i want to sare with you that i had worked in that company for about 2 years,in my education period. at that time i met an sudden illness. and doctor suggested for operation.at that time this company help me to overcome out of my problem.now i am able to walk on my leg. if you notice any person cheated by Agrigold tell them or take them to nearer branch office or head office they will definitely give there amount if they paid more than 110 rupees.

yashodha said...

hello my dear friend.Agrigold is gift for the INDIA'S economic,because of 1.it is creating more employment directly as well as indirectly.2.it is developing rural and semi urban areas.3.this company is towards to make India number one in the world, in economic.4.more over it is based on the agriculture. agriculture is the backbone of India.5.it is developing in many sectors.like power,agribusiness,tourism,infra structure, medicine,knowledge service and more.definitely you wait and watch Agrigold will become India's number one company.

corporate frauds watch said...

Dea Yashodha, Helping is an employee does not make a wrong a right. You miss the point. The AgriGold has no permission from Reserve Bank of India to collect deposits from public. There is no security for the public money. If the closes down tomorrow, there would not be any claim for their money. The AgriGold has been cheating the public in the name of offering land for the deposits. Can anybody say how many people were given land for their deposits. If AgriGold really gives land for all the depositors there would be not a single inch of land left in India. This is the cheating part.

Aruna said...

I have bought 2 plots of this company near Prakasam District. Was I correct in investing in this. What are the ill effects and in case can you suggest any remedies ?

Shyam Sundar said...

I choose to take your word for granted on purchasing plots. If Agrigold could give plots to all its investors, the whole land in the State or in the country is not sufficient. Let the company come out with the documents how much land it actually possesses all over the State or in the country. To facilitate it a thorough investigation is necessary.
You are talking about ill-effects, the modus operandi of mobilising deposits itself is illegal. Is there any guarantee that the money would be returned to investors. IF 'Agrigold' has RBI permission to mobilise deposits, people could be rest assured. But it has no such permission from RBI.
If all the businesses of Agrigold are that profitable, the owner could have obtained loans from the commercial banks. But instead, he has chosen to collect from public. That is the cheating part.

Kandi said...

i am working in this company as a marketing member since 2005. i got all maturity amount time to time.
so how could i believe it is fraud.
they told that this company has permissinon with SEBI.
WE HAVE THOSE DOCUMENTS ALSO.
so please give answer to us.
Raju.hyderabad

Shyam Sundar said...

Mr Raju, you did not say at what capacity you are working with AgriGold. If you are one of those people who are collecting deposits from public, you must be aware how the company is mobilising deposits. You also know how much commission the company is paying you to collect deposits.
SEBI never gives permission to collect deposits from public. It is only the RBI which has authority to give such permission.
Once the mobilisation of deposits trickles down, the true colours would come out.

balu said...

hello, mr sundar agri gold collecting through people any pigmy,rd,and deposits agri gold onlydoing CONTRACT FARMING AND FARM LAND SAILING so not nessacery to take permission frm RBI

Shyam Sundar said...

It is all lies. If the AgriGold really allots land to all its depositors, there is not sufficient land all over India to give land to these depositors. As long as Agrigold gets new depositors, they may return to the old depositors. Once the new deposits trickles down, then the original colours would come out and the company may disappear.

Gouru said...

Hello Yashoda,

Coastal area of karnataka is witnessing the penetration of Agrigold in a big way.
My question is that if they are so honest in there business why cant they get the govt. authorisation and write to people through News paper and convince them.
End of the day,It is public money.
There are lot of intermediaries who are collecting the money from the people will be in trouble when such business model goes for a toss.
If agrigold is so trustworthy,then start giving the loan to the public

Shyam Sundar said...

Mr Gouru,
These crooks keep on collecting one state after another like Golden Forest did in the '90s. Golden Forest disappeared with Rs. 200 crore. It also promised that it has lots of lands all over India and it would repay the deposits selling them. But it never repaid the deposits. The same is going to repeat with AgriGold sooner than later. AgriGold has branched out into various businesses for the namesake. Ultimately, nothing would salvage the company.

SATYA MURTHY said...

I am a retired Legal Officer, worked for so many departments. Along with my colleagues, we have purchased plots at KOLAR and MALUR of Agri Gold. Before purchase we have verified all the permissions of the ventures, and the market value of those plots are very high at present. I have gone through your versons about different companies and felt that you are doing all this with a hidden agenda and personnel interest, which is not good.

Satya Murthy

Shyam Sundar said...

Ok Mr Satyamurty. As a legal officer you know how to tackle a person who is indulging in mudslinging. Sue me. I answer all the questions in the court of law.

v.t.r said...

Helo Mr Shayam sundar

There is both good and bad in universe but not all bad....
to explain wat u said in your words consider two drivers among them if one had drunk n droved and made accident... with this reason u r suppose to say that other driver also may drink some day and do accident some day....which is absolutely not correct...in our country there are lots of politicians who make thousand of crores scams...also there are lots of frauds in the name of saints...
there are peoples like U(Shayam Sundar) who makes people disturbed and spoil their lives...and in the same manner our country also has people like Mahatma Gandhi Puchalla Palli Sundaraiah, Mother Theresa Anna Hazare....so Please dont treat all people same....
If you hav no work Please contact me i will show you the way from which you can live also make 10 peoples to live....
By the Way I am
V.Tirupathi Rao
Agrigold.

Shyam Sundar said...

Thanks for the offer. But no thanks. You did not say whether you are one of those recruiters of AgriGold or one of the employees. If you are an employee I could understand your loyalty to the employer. If you are an agent collecting deposits for a handsome commission, Still I could understand but never could not excuse you for deceiving your own friends and relatives. Wish you are right and nothing happens to AgriGold and people's money is saved.

Khaleel said...
This comment has been removed by the author.
Khaleel said...

“but never could not excuse you for deceiving your own friends and relatives. Wish you are right and nothing happens to AgriGold and people's money is saved.”

Superb words! And just for these words one should think and understand this chain business!
I truly support Mr. Shyam Sunder and admire him for his every response said over here.
I had come across with such agents like Cold Coin and Amway. I tried my best by saying the same.. one day you are going to cheat your own people! B’coz these agents/commission makers were trained for this. Yes! trained to cheat their own people.
I am not sure of all these legalities and the earnings. I have couple of question..
a. If this process of money making is so easy, why Reliance, Tata, Bajaj, SBI …etc are not in the market to start the same?
b. When Mr. Shyam Sunder was asking about the permission for RBI, why is there is no proper response over here?
c. I still do not understand why people feel to earn money without of hard work!
When an agent approached me for Gold coin business (Rs.30000 deposit), I tried to explain and showed an approach to buy an Auto Rickshaw(that time it was some Rs.90000) from three other depositors who were ready to deposit their money and recruit a driver or rent the auto. So that the depositors would earn a minimum of Rs. 300 to Rs. 500 per day. Likewise they would be helping someone by giving a job and also will earning RIGHT money. He tried to defend himself with his side of argument, luckily in no time things got revealed before another innocent common becoming a scapegoat. Most of you would have known the result!
This is yet another beginning... It may be true as many agents and initial depositor are saying over here. To spread the business, they need to satisfy the initial investors otherwise it is difficult to cheat the rest of exponentially spreading innocent public (ek din ka badasha!) who are dreaming to earn money without of hard work!
Please take the examples of right people! There will be evil elements in society and we cannot take them as example to live in this world and take their way of earning! I know wise people will never get into these just like earning money!
Kudos to Mr. Shyam Sunder! I wish many such Shyam Sunders for my society, for my state and for my country. God Bless India!

Thanking you
Khaleel

guptha said...

Hi Freinds,

As far as Coming to Agri Gold Cencern Nothing will happen to he company i will say you the Reason why?? .Today the properties of the company is very High where No one can imagine .But One thing What are all the projects eror works taken by the company Or under huge losses That is for shore No dought There will be a day for saturation like satyam ,Maytas etc

Shyam Sundar said...

Golden Forest Private Limited also boasted of owning great stretch of land and property all over India. It claimed to have 150 acres of land near Hyderabad. If they are believed, it would be very easy for them to repay all the depositors easily. However, they never repaid the depositors. It is going to happen to the depositors of AgriGold.

Hemasundar said...

Found this on the net from SEBI website

http://www.sebi.gov.in/cis/cisstatus.pdf

It is from 2003 and then Agri Gold was not allowed to mobilize funds from public. Not sure if they have the CIS license now or not. trying to gather more info on that.

surya said...

Dear sir,
i am an advocate in bangalore can please mail me some info and documents on agri gold frauds so that we can stop people getting cheated. surya.mukundaraj962@gmail.com

Shyam Sundar said...

What documents you need counsel? It is the accused company which has to produce the authentic documents to prove that it is authorised by the Reserve Bank of India to mobilise deposits. And it is conclusively proved that it is not so.
Just tell people that they are investing in this company at their own peril.

Shyam Sundar said...

One of our readers Mr Goli Muralikrishna writes:
Mr.Shyam Sunder
The biggest step forwarded in 1995 in the name of "agri gold".Since 1995,They are in right way in enlightening lives of so many homes.

It based on immovable property and established so many industries. It gives huge number of employment either directly or indirectly.
For your information I am stating here that, I am one of the many witnesses for "THE SKY ROCKETING GROWTH OF AGRIGOLD GROUP".
I have had never heard any negative comment like what you made.
Don't make such comments without
evidence. By its activites, They got favorable reputation.
So please give up your negative thoughts against "AGRIGOLD GROUP". No one is hear and suppose you. Because, "MANY CLAIM TO CREATE MIRACLES BUT A FEW SPECIALIZE IN THEM". Among a few " AGRIGOLD " Stands at No:1
Now Listen Muralikrishna. Instead of warning me not to make such comments, ask your bosses to file a criminal case or a libel suit against me. I would love to defend my case personally by appearing party in person. Why such blabbering?

aruns666 said...

Mr. Shyam,

There is a new business starting at North Karnataka in the name of Agri Hills, Farm Estates Pvt. Ltd. is this the company started by Agri Gold. It has similar Pigmy, RD plans. Kindly look into this and let us know how different it is from Agri Gold.

Shyam Sundar said...

Just check whether it has the permission from the RBI to collect deposits. Generally it won't. Naturally it is just another con company out to cheat people.

Murthy said...

Friends Mr. Sundar is saying it right.Agrigold is a Pvt. Ltd.Co. and cannot raise deposits from public. Mr.Sundar pls inform RBI about this and they will take suitable action. The Co. has been raising crores of rupees every year but where is the money going. HAs anybody seen their balance sheet.. Good Job Mr.Sundar

trinath said...
This comment has been removed by the author.
AGRI_FORMS_INDIA_JMO said...

Agrigold is a not a finace company no need rbi agri gold india form land salling and re salling lands as for custmor ruc has several business like Power, Tourism, Infrastructure and Agri business are the Core Segments of the Group. The Group is emerging as a 'Conglomerate Tower' on the Strong Foundation of achieving in Togetherness and celebrating the Success in Oneness. I was deposited 100000 in 2005 and I have received back 1,35,000 . It is not fraud. It is improving business by collecting money by public and not from share.. You can contact Government of Andra Pradesh to get its land information . Also, please give me one example who got cheated from it.

Smartdoc Design Centre said...
This comment has been removed by the author.
Smartdoc Design Centre said...

Those who have commented favouring the agro gold company may be working for it, or those who are get paid intentionally by the company as part of its mass cheating plan. This does not make a fraud company's in to a clean. What to do? I am ashamed of the people who are ready to cheat themselves even after some good advisers are there to alert the public. Why are people slipping away for the RBI question? Shame!Fools! Go and suffer!
R.Rajendren

Shyam Sundar said...

Dear AGro forms

If Agrigold is selling lands why did it return your money instead of giving you some land. Land is only a camouflage for its fraudulent activities. People like you, are responsible for misleading public. You are the real culprit.

Any company needs permission from RBI to collect deposits from public.
Wake up my dear fellow people of India. Don't fall for the fraudulent promises of these companies.

srinivas said...

Trillions India Distributors Ltd, Ernakulam, KERALA is also doing same business and collecting money from public but not giving the monthly incentives nor the invested money. The MD is SHABU from KERALA

I have invested all my hard earned money of rs.3.5 lacs in the month of april'2011 through

two LIC agents

(1) mr. M. Rahimsab
LIC agent (agent code no. 0135565c)
s/O mahaboobsab
rtd. Postman
h.No. 18/820-j2, tilak nagar
guntakal - 515801
mobile nos. +919290524205, +919133555090.

(2) mr. D.S. Hari krishna,
LIC agent
s/O satyanarayana
(laadu bandi)
h.No. 5/82, jonnagiri (post)
tuggali (mandal)
kurnool (dist.)
Mobile nos. +917396458117, +919052507298, +919963355137
landline no. 08520 236887

in preference shares of trillions india distributors ltd. Ernakulam, with monthly returns,

believing the words and commitment of these LIC agents and expecting that it will help for my children career.

The above LIC agents have send the amount through rtgs (sbinh 11119302849) from state bank of india to trillions india distributors ltd a/C no. 501011020936, ing vysa bank, ernakulam.

After a month I could not get any returns nor the preference share certificates, when I enquired, the LIC agents has given me a partial preference share certificates and when I asked for the rest of the certificates and monthly returns. They said that you will get in few days and has dragged the issue till date.

Till date I have not recieved any amount nor the preference share certificates and now I understand the I was cheated and these agents are working as brokers for many money circulation comapnies for their benefits and getting high commissions and cheating the innocent public.

Hence I request the authorities to advise and help me to get back my hard earned money.

And also request the authorities to save the innocent public from the cheating agents.

Unknown said...

Dear,

what about newly established company's like safeland infra,bhavitha gold farms and estates limited, and others.

Madhu Patil said...

Mrshamsundr: just because it hasnot teken the permission fron RBI it doesnt mean that it is cheating people. there are millions of private companies which fulfil billions of indian needs, do you call them FRAUDS?(just cuz they are not government companies)?
how dare is this call AGRIGOLD a fraud company?

MADHU PATIL
1042 BELGEAM BRANCH
AGRI GOLD

suchincs said...

Hello Shyam Sundar,


Please show me the proof who has lost the money from agri gold, if any body paid more than 100 rupees with receipt, we will definitely help them to get back the money.There is no need to panic.
Now Agri Gold channel is Coming Up.
If you tell it is fraud how the company stays such a long time,hey have power plants,constructions etc.,



Perugu Balu said...

No who ever posted this Blog seems nurishing some grudge against this company I know this company for the past 17 years and my froend on his own started a branch at Pathapatnam srikakulam district and thrived on his extensive work etc.This company has assets worth 3 times more than it get is public contirbution lone case of cheating is at grass root level some cheater would have used company name Kindly do not spread false rumor this company provides employment for more than 2 lakhs people directly plus indirectly who earn respectfully and raising their family Jai hind

T M Prakasha said...

I am not a member of Agrigold, but still i insist that Agrigold is proved that it has not made any fraud and running from 17 years. Even i know some people who have invested and working as executives also, But still dont fraud the innocient people who are in to it.

Shyam Sundar said...

For the simple reason that there are no criminal cases against the company, the illegal deposit mobilisation would not become legitimate.
The bubble may burst any minute.

abs said...

prasad,vijayawada
Dear sir,
your great service as fraud watch is highly apreciated.Agrigold started long back and still doing well.many negetive comments raised against Agri Gold But there are thousands of depositors who got benifits and high returns.As per you The company has no RBI permission to collect deposits-is true.As per you even the company paying back benefits to satisfaction of depositers and commission agents and thousands of employees will not make a wrong thing as A RIGHT THING.I think RBI Authorities also watching this comments thogh not regularly.If they feel AGRIGOLD is irregular company they can openly warn public as they must have more responsibility on Indian public Than shyam sunder.You are targetting only one company-can you write any thing about AKSHYA GOLD,ABHAYA GOLD,VISWAS GOLD,XYZ gold recently I observed several gold companies emerging in the market and disappearing.Agrigold is reletively permanent comparitively better one.Lots of depositers got benifits.lot of people are surviving by employment.GOVERNAMENT is there to lookafter public interest.IT is better to focus some fake company recently blownout, or recently emerged and about to vanish.If you going on target only one company your integrity will be lost. you bring other fraud ventures in to light.You will be usefull to public bloggers and netigens. Thank you for your service.

Shyam Sundar said...

Do you know about the criminal case filed against Ramoji Rao for collecting deposits without permission from the RBI. He too did not default and he has been providing employment to a number of employees.
A crime is a crime.

VINOD MOCHARLA said...

Dear Sunder my relative has paid money to the agri gold agent regularly now the tenure is over he has nothing to pay. he paid the amount for the land tenure is 3 years
now when we are asking the same to the agents they are asking for extra amount.which we can not pay so please help me in taking it forward. i want know is there any way to fight swith them to get our land.Please help me.

Shyam Sundar said...

Vinod,
Serve a legal notice to the company or lodge a complaint with the police showing your payment receipts. If the police did not take the complaint, lodge a private case in the court.

chetan korti said...

sir agrigold group is having multi companies which include 5 power project, milk project, seeds unit real estate division, exports, beauty care products, hailand and i heared they are setting up to open 5 new t.v channels, already 1 channel is running in 30 odd countries i can't beleave how you are calling this company as fraud it has compleated 17 years, if it was a blade company why did it started so many business, and the examples you are giving of extent companies did not had so many companies under it
regards
cik

Shyam Sundar said...

Chetan,
Agrigold is running several firms with people's money. It is a known fact that few of the firms are running profitably. The bubble may burst any minute. Do you know Abhaya Gold bubble burst?
I am not talking about the companies run by Agrigold. I am talking about the way deposits are collected by Agrigold. It is collecting deposits without permission from the RBI.

Anonymous said...

Some people are trying give good feedback to Agri Gold. Recently Supreme court has asked the very popular SAHARA GROUP to return 24000 crores of rupees of deposits to investors in few weeks that are taken without RBI permission. SAHARA group is such a big name INDIA and holds lots of businesses. It is a sponsor of INDIAN CRICKET TEAM. Sahara Group chairman Subrato Roy is a very influential person who is close to many leaders in govt and none of these people could save him from Supreme Court ruling.

What I am trying to say is that how ever big a person or group may be, it is illegal to raise deposits from public without RBI approval. Such companies and persons can survive for few days until all goes well. Once a trouble starts, company defaults then no body can save these investors.

We have seen many examples recently. Abhaya Gold, Akshaya Gold etc turning their boards recently and investors are crying to get their deposits back invain. These kind of companies give back deposits to individual until they get into big money crunch. Until then they will maintain good reputation. They will close down their shutters of all their branches one fine day all of a sudden and then only public will come to know about its real picture. All its supporters will go into hide on that day.
My sincere suggestion to public not to deposit/invest in any company that does not have RBI approval, that doesn't reveal its business model and all the facts about their business. We have to learn from past experiences.

Anonymous said...

Syam Garu,
I think Agrigold is the Sarada of Andhra Pradesh. BTW do you think Herbal life and Tupperware also fall into MLM which cheat people through high prices.

-Sivaram Prasad Dogiparthi
CERTIFIED FINANCIAL PLANNER
sivaramd@yahoo.com

chetan korti said...

agrigold is comming up with new projects which need not to have rbi permission it has created ventures in different names and has discolsed the places where the plots or the farm lands are present it is selling farm plots with agrement in which you are required pay offer price by monthly yearly or single payment and you have to bear the stamp duty at the time of registration. It has converted all its bussiness into legal one, EG:if you want to sell your own property you need not have RBI permission if you recieve money from buyer similar way agrigold is working in this ideology. At the end of term you can registrer plot or you may take cost of plot which is pre-determined at the time of booking of plot not a single paise more. now NO BODY CAN TOUCH AGRIGOLD LEGALLY. If you want more clarification or information do comment on my post sincerly chetan

Anonymous said...

if it is correct?legally?
then what is the problem to take the rights from RBI

if you are not correct legally
your business is illegal only.

No doubt in this.

now a days we are watching so many cases collecting crores of rupees and shut down their companies.

if tommarow this is also same path
who are responsible for public money?

chetan korti said...
This comment has been removed by the author.
chetan korti said...

i got the confirmed information from my souces which i have writen above and i am not the person to ask weather the company is legal or not if it was possible to whome i should ask??? i don't know. if any person comes forward and challenge agrigold in the court then the court will decide about the company whether it should or must have permission with rbi or not if you are cheated by any one you have right to file a complaint then go for it then go and file complaint against agrigold.... i got some news some days back... take a look.... http://ibnlive.in.com/news/sebi-declares-unauthorised-investment-schemes-as-fraudulent/413742-7.html
sebi has taken steps as regards so no harsh feeling about concerned authorities that who is responsible for peoples money and all that..... if sebi or rbi finds any loop holes it will definetly take action aganst agrigold or till any file case against agrigold.... final word this conversion keeps on going for and against agrigold because it is on and on since this article was published on this site from may 31 2010 if you belieave in it because of so many reasons then invest in it or if you don't believe in agrigold for any more reasons then stay away from it "take your own call" investment in agrigold is subjected to your own risk....if you see every person will die one day in the same way every company will vanish one day eg satyam computers it will be known to you if you were share holder at that time of scam... and if you have sold those shares some days before the scam then how would feel just think ..... no one knows about tomorrow.... yar its your own hard earned money take your own decisions and don't blame any one for your own decisions

sanjay ramaswamy said...

if sebi or rbi finds any loop holes it will definetly take action aganst agrigold or till any file case against agrigold.... final word this conversion keeps on going for and against agrigold because it is on and on since this article was published on this site from may 31 2010 if you belieave in it because of so many reasons then invest in it or if you don't believe in agrigold for any more reasons then stay away from it "take your own call" investment in agrigold is subjected to your own risk....if you see every person will die one day in the same way every company will vanish one day eg satyam computers it will be known to you if you were share holder at that time of scam... and if you have sold those shares some days before the scam then how would feel just think ..... no one knows about tomorrow.... yar its your own hard earned money take your own decisions and don't blame any one for your own decisions

Sunil T said...
This comment has been removed by the author.
chetan korti said...

dear sunil can i ask how did you approach the company through agent of company or you your self contacted the company if you approached agent catch him first he will resolve all your things or if you approached your self check the payment reciept dates of which you paid, if it is proved that you are defaulter then its your fault that you paid late no compensation is paid to you instead you have to pay or penalty at 12% it is not interest by th way its clearly writen in terms and conditions pay the penalty and buy the property don't leave it please read the terms and conditions. there is no questions like how could they ask... i have also got an appartment and paid within dates and got registered also. and if you paid all installments on time you can file a legal action against company

chetan korti said...
This comment has been removed by the author.
Mohd Zaheer said...

Hello Friends...
Any body tell me what about AKSHAYA GOLD Co.

k.S.Mahesh said...
This comment has been removed by the author.
k.S.Mahesh said...

Dear Shayam sundar sir

Agrigold is making cheat for the customers from september 2013.the customers agreement date is closed then also they are not giving the money for the customers if we go to the branch they are telling that after 30 to 40 days your money will get return back. please suggest for me how to take my money.

gogulasreekanth said...

Dear shyam ji,
i didn't believed your words when you started this conversion. but if we observe now a days agrigold facing problem but i dont know why,many people are waiting from last 2 months even though their agreement period closed. they didn't get back money from agrigold. the agrigold agent getting many problems from their customers. why where is the problem Please explain

suresh akkisetty said...

No cheted company there is not a akshya gold & siri gold it is a agrigold it is one of the best company no problem.

Shyam Sundar said...

Suresh, For the last three months the Agrigold defaulted on repayment of deposits. Soon several criminal cases would be filed. Watch out!

Anand Kumar said...

Friends... I have bot a plot in Malur which was sold by Agrigold. This was about two years back! The price of the same today is same or slightly less then the price i bot! Please let me know if there are any updates on this property? im i one of the victims of Agrigold's property trap?

satish said...

Can you name a company who pays salary by pay slips and pf by cheque ?

Can you name a company who deducts e.s.i money from employee salary and doesnt provide any medical allowance to employee in his health problems?

can you name a company who doesnt pay pf after resigning ??

The answer is ::

AGRIGOLD

Ramana Rao said...

Dear Sir, Now a days AgriGold is facing problems with repayment of money to the customers, head office is unable to pay the customers, the branch office is paying to the customers after bringing the new deposits. If the new deposits stops then how the company pays.

sureshbabu gundabathuni said...

Dear sir...my name is suresh..from ongole.
i have deposited...my hard working money....2 lakhs....on.2010....thesee deposits matured in june..july.
2014...i shocked...after heared..this rumour
now..what can i do..please give.me advise.

Shyam Sundar said...

Suresh, rush to the nearest police station and lodge a complaint. Then the Agrigold would come to redress your grievance.

Darshan darsha said...

dear sir, ur absalutly right, its fraud cheated company, hads of to u sir,

Siva Krupa said...

Dear sir I deposited 200000 rupees in agrigold in the month of April 2014 at the rate of 24%. Is it safe or not? Please give me advice.

Arun Kumar said...

Dear all,

I had been depositing rs 1200/- per month for 5 years. It got matured in december,2013. I've not got matured amount till now (May 26, 2014).
what shall I do.. ?

Shyam Sundar said...

Arun
Immediately go to the police and lodge a complaint under AP Protection of Depositors Act.

Ashok Kumar said...


Here is the SEBI link that saying Agri Gold is authorized to collect investments from public.
(http://www.sebi.gov.in/cis/notice1.html)
Shyam Sundar Could please comment on this?

Shyam Sundar said...

Ashok
What have you deduced after reading the caution from SEBI. Read once again. Actually SEBI is warning public against these companies.

Ashok Kumar said...

Ho Ok,

As per the below lines from site i thought these companies are only eligible.

(" It is brought to the notice of the public that the companies/persons other than the above referred companies / persons cannot mobilise any money from the public under any schemes i.e. whether existing or new collective investment schemes.").

Thanks for the reply Shyam Sundar.

Naveen Kumar said...

Dear shyam sir I have deposited 11lakhs in agrigold I am getting mothly interest 11000 rs.
deposits mature on april 13 still I wasnt get my maturities I am really pissed off on the company behavior can. You please suggest me how can I get back my maturities please help me what shall I do ?

Shyam Sundar said...

Rush to the nearest police station and lodge a criminal case.

vinay kumar said...

SIR,
FIRST OF ALL I NEED TO APPRECIATE U BECAUSE IN 2010 U WROTE THIS ARTICLE CLEARLY SAID ABOUT ALL THOSE THINGS.
BUT THIS PEOPLE ARE NOT BELIEVING YOUR WORDS. NOW 2014 AGRIGOLD ARE NOR PAYING THEIR MATURED FUNDS.IF IT IS A GOOD COMPANY WHY IT IS DOING LIKE THIS.PLEASE EXPLAIN THE PROCESS CLEARLY HOW WE NEED TO FILL THE CASE AGAINST AGRIGOLD. LOCAL AGRIGOLD AGENTS ARE ATTEMPTED SUICIDE FOR NOT PAYING THEIR MATURED AMOUNT DUE TO PEOPLE PRESSURE. SO PLEASE HELP THEM BY PROVIDING THE DETAILS.

leo christy said...

sir/madam, if any persons facing the problems with the cheque bounce that had been given from the company and any other issues about the company, please feel free to call or contact council for media and satellite broadcasting, media council.in as we have got lot of complaints from south and north regions or else mail to nhrcpresident@gmail.com along with a detailed report and your contact numbers

D P RAO said...

I have paid 1,08,000 Rs/- from feb-2011 to Jan-2014, Amount has to come on April-2014, but still now not received, contacted agrigold customer care number 18004255335, they are saying it will come on July fist week. Let u know the status..

D P RAO said...

Can any one share the mail ID of agrigold senior officers

jyothi dias said...

I had deposited my money in Agri gold company. It has been matured in March2014. But still i didn't get the money. what should i do. can anyone suggest me?

chetan korti said...

Agtigold has issued Feb march 14 maturities in some of its branches, and April-May 14 maturities will be issued in the end of July 14 and maturities of June-July 14 will be issued by mid Aug 14. don't panic it will definetly refund your hard earned money

Shyam Sundar said...

Chetan, it is not refunding the amount to the depositors. The mobilisation of deposits itself is illegal and liable for prosecution and imprisonment.

chetan korti said...

Shyam i recently heard about investigation of CBI in agrigold headoffice giving agrigold clean-chit by saying agrigold is purely a realestate company and there is no fraud in this company can you confirm this news because i got information by some Grapevine am not perfectly sure about the above news...

Shyam Sundar said...

It is not true.CBI never probed the Agrigold and on the other hand it won't give clean chit on its own.

Sathisgh said...

Dear sir,is there any hopes if we file a case against this company
will we get amount of maturity
why because i am very afraid of future maturities of mine account
because i am the agent and customer of this comapny.
please give suggestion how to approach? where should i approch.
give correct solution sir..

chetan korti said...

http://www.thehindu.com/news/national/andhra-pradesh/mega-property-deals-pick-up-in-ap/article6231248.ece and http://www.tollywooddaily.com/address-for-success/