For the first time in the history of India, Andhra Pradesh government has done something which is deemed as impossible. The government has managed to recover 25 Crore from VR Chits in Vishakapatnam which tried duped the customers.
CID confiscated the assets of VR Chits and put them for auction, recovering 25 Crore from then. Chief Minister Chandrababu Naidu will be handing over the cheques directly to the customers. No government in the past has managed to recover money from fraud chit fund companies.
Needless to say, the customers of VR Chits are delighted. On the other side, the customers of Agrigold are also hoping that the government will do the same for them as well. The issue is in court and the government is gearing up for the auction of Agrigold assets.