SEBI brands AgriGold as fraud company
Hyderabad, Sept 19: The Securities and Exchange Board of India (SEBI) today branded that AgriGold is a fraud company and ordered it to return deposit amounts to the respective aggrieved deposit holders within three months.
SEBI warned of taking legal action if AgriGold fails to pay back the funds to deposit holders.
SEBI also ordered that henceforth neither the managing director nor the other directors of AgriGold company can involve in any form of business as they had raised funds through investment and collection schemes.
SEBI also said that AgriGold management had not submitted all the stipulated documents to it for verification.
The SEBI also told the government to register criminal cases against the management of the company.
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