ED Restitutes Assets Worth Over ₹6,000 Cr to Agri Gold Victims

The Hyderabad zonal office of the Directorate of Enforcement has restituted properties worth over ₹6,000 crore to the victims of Ponzi schemes launched by Agri Gold group of companies.

- EXPRESS NEWS SERVICE @Hyderabad

The market value of the properties at the time they were attached was calculated at ₹3,339 crore.

In December 2024, the ED filed a restitution application under Section 8(8) of the Prevention of Money Laundering Act, 2002, before the special court (PMLA) of the metropolitan sessions judge, Hyderabad, for release of movable and immovable properties attached by it to the Crime Investigation Department, Andhra Pradesh, so that the seized assets could be restituted to the victims of Agri Gold Ponzi schemes under the provisions of the AP Protection of Depositors of Financial Establishments Act, 1999.

The judge allowed the restitution petition filed by ED on February 21, 2025.