Bengaluru. Hundreds of investors affected by the alleged Green Birds Agro Farm Limited fraud gathered at Freedom Park on Tuesday, demanding immediate refund of their investments. Protesters said nearly 1.5 lakh investors across Karnataka were affected after being lured with promises of high and secure returns, only to face payment defaults later.
Investors Claim Life Savings Were Lost
The protest was led by Kuruburu Shanthakumar, President of the State Sugarcane Growers’ Association. Demonstrators included farmers, small traders, women and low-income individuals who alleged that they had invested life savings, agricultural income and borrowed money in the company.
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According to protesters, the company had promised assured returns, which encouraged many small investors to participate. The case dates back to 2013, when initial complaints led the state government to order a CID investigation into Green Birds Agro Farm Limited.
Asset Auctions Fail to Satisfy Victims
Several criminal cases have been registered against the company, and many of its properties have reportedly been auctioned to recover investor funds. However, protesters alleged that repayment has not been fair or transparent.
They claimed that nearly 90 percent of the company’s assets have already been liquidated, but the proceeds have not been adequately distributed among victims. Investors are now demanding that the remaining 10 percent of assets be auctioned immediately to ensure full recovery.
Demand for Monitoring Committee and Transparency
The protesters demanded the formation of a special monitoring committee, including Kuruburu Shanthakumar and representatives of affected investors, to oversee asset liquidation and fund distribution. They also sought public display of auction details at taluk offices and district administrative buildings.
Protesters alleged that some individuals associated with the company, despite being out on bail, were attempting to mislead investors with fresh assurances. Authorities have said the investigation is continuing and that legal measures are being explored to ensure justice for affected investors.
The protest remained peaceful, but investors warned that they would intensify their agitation if swift action is not taken. The case has again drawn attention to the risks of high-return investment schemes and the prolonged challenges involved in recovering funds for victims.
