Green Buds Agro Farms Limited Depositors Protest In Bengaluru Seeking Repayment Of Money

Bengaluru: Hundreds of depositors with the Green Buds Agro Farm Limited, along with activists, protested at Freedom Park in Bengaluru on Monday, demanding repayment of the money deposited by them. The protestors claimed that they were cheated.

The protestors disclosed that more than 1.5 lakh depositors across Karnataka had invested over Rs 100 crore with the company and were later cheated. The matter dates back to 2013, when the investors had come out claiming that they had been defrauded.

Following protests by farmer groups, including the State Farmers’ Organizations Federation and the State Sugarcane Growers’ Association, over 120 cases were registered against the company’s promoters, directors and associates. A Criminal Investigation Department (CID) probe was ordered at that time, leading to arrests and the seizure of several properties, many of which have since been auctioned.

The protesters at Freedom Park claimed that a large number of depositors, including rural labourers, farmers, women and small vendors, are yet to receive their money.

They demanded that funds generated from the auction of nearly 90% of the company’s assets be distributed to depositors in a phased manner without delay. They also urged the authorities to auction the remaining 10% of assets and clear the pending dues.

State President of the Karnataka State Sugarcane Growers’ Association, Kurubur Shantakumar, said, "Over one and a half lakh depositors have been waiting for justice for years. Most of them are from poor and rural backgrounds. The government must ensure that their hard-earned money is returned at the earliest."

The protesters further alleged that some properties, particularly in Mysuru and Chamarajanagar districts, had been sold illegally with the support of certain officials. They called for these assets to be identified, seized and auctioned.

Meanwhile, the State General Secretary of the Green Birds Workers and Depositors Protection Committee, Baradanapura Nagraj, said, "There are serious concerns about missing or incomplete records collected during the CID investigation. A re-verification is necessary to safeguard depositors’ interests and prevent further irregularities."

The protesters also demanded the formation of a special committee involving farmer leaders and representatives of depositors to oversee the process and ensure transparency. They suggested displaying auction notices widely at taluk offices and sub-registrar offices to attract more buyers and maximise returns.

Highlighting the human cost, the protestors said that over 25 people had died by suicide in the past 13 years due to financial distress linked to the fraud. They urged the government to provide Rs 5 lakh compensation to each affected family.

Officials from the competent authority, including A.C. Sudarshan, received the memorandum from a delegation of the protestors. In a subsequent meeting held in the presence of authority head Amlan Aditya Biswas, the leaders of the protestors were informed that about 50% of the assets had been auctioned, and efforts were underway to dispose of the remaining properties and repay the depositors soon. The protest was temporarily withdrawn following the reassurance.