“Green Buds Agro Farms does not believe in cheating depositors and all the depositors will be paid their dues within a month of the release of its MD B.L. Ravindranath who is presently in judicial custody,” said V. Shivakumar Koppal, Chief Advisor to Green Buds Agro Farms here this morning.
Addressing a press meet at Patrakarthara Bhavan here, he said the company which was started 14 years ago had 72 branches and only Rs. 18 crore out of the Rs. 150 crore taken as deposits from investors was due to be paid.
Shivakumar alleged that vested interests had launched a campaign against the company taking advantage of the fact that payment of Rs. 41,000 had been delayed by a week.
Stating that the company had planted valuable trees in the 300 acre plot, Shivakumar said that there was a proposal to sell the land and repay all the dues to the depositors and urged the depositors not to panic as the allegations levelled against the company were far from truth.
Ravindranath’s wife U.L. Dhakshayini, advisor Rajashekar, M. Manjula and Maruti were present at the press meet.
Courtesy : Star Of Mysore