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Vijetha group chairman sentenced to seven years

The group was facing overall 12 cases registered in various courts of the state, but the high court transferred all these cases to special court for economic offences at Guntur.

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Special court for economic offences here sentenced Vijetha Agro group chairman Krishna Murthi Guptha to seven years imprisonment and slapped him a fine of Rs1,26,000 for swindling public deposits to the tune of Rs44 crore.

The court also sentenced eight directors of the group to two years imprisonment and fined them Rs 13,500 in its verdict yesterday.
    
The group was facing overall 12 cases registered in various courts of the state, but the High Court transferred all these cases to Special court for economic offences at Guntur.

Vijetha Agro Farms India Limited, launched by Guptha in November 1995, accepted deposits from 49,371 depositors to the tune of Rs44 crore but failed to pay them interest and the principal on maturity. The group was closed in the year 2001. The directors of the group convicted along with Guptha include his wife Prameela Devi and her brothers.

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