AP Government Announces Major Relief Measures for AgriGold Depositors

The Andhra Pradesh Cabinet Sub-Committee convened in Amaravati to discuss issues related to AgriGold depositors, with the government reiterating its commitment to ensuring justice for thousands of affected investors. Addressing the media after the meeting, Minister Nadendla Manohar said the government has identified nearly 6,000 acres of AgriGold-owned land for auction and has directed the CID to initiate the auction process without delay.

The minister stated that AgriGold had collected deposits worth nearly ₹6,000 crore, including around ₹3,000 crore from Andhra Pradesh alone. To streamline the compensation process, the government will launch a dedicated website containing depositor details and establish a special mechanism for issuing bonds to eligible victims, with the bond distribution process targeted for completion by September 15. He also announced that a high-level review meeting with the Chief Secretary will be held on August 11, while a special court to expedite AgriGold-related cases will be established by August 15.