Latest News: one hundred Crore rip-off With Donkey Milk

Farmers had been lured into this scheme with the promise of lucrative returns from donkey milk.

In what's rising as a cautionary tale for investors inside the agriculture sector, a collection from Tamil Nadu, known as "Donkey Palace," has allegedly swindled masses of farmers across several Indian states out of a predicted ₹one hundred crore. This scam leveraged the burgeoning hobby in donkey milk, often lauded for its nutritional blessings and immunity-boosting properties, as bait to entrap farmers searching for worthwhile agricultural ventures.

Farmers had been lured into this scheme with the promise of beneficial returns from donkey milk, that is in excessive call for for its purported health blessings. They were required to make investments a hefty security deposit of ₹five lakh each, except for purchasing dairy donkeys at prices ranging from ₹eighty,000 to ₹1.five lakh. The business enterprise, running on a franchise version, committed to buying the milk again at ₹1,six hundred in step with liter. to begin with, to build accept as true with, bills had been made for the first three months. but, farmers have no longer acquired any price for the beyond 18 months for the milk furnished, leaving them careworn with extra fees for upkeep, production of sheds, workforce wages, and veterinary care.

The scenario escalated when attempts to address the difficulty with "Donkey Palace" led to farmers being issued bounced cheques valued among ₹15 lakh and ₹70 lakh. This scam has affected over 400 farmers from Telangana, Andhra Pradesh, Tamil Nadu, and Karnataka, leading to a collective loss of around ₹a hundred crore. There are whispers of political figures being implicated in this scandal. regardless of filing complaints with the Chennai police, the farmers' pleas have gone unheard, with even the GST variety and FSSAI license proven in the course of the agreement found out as fraudulent.

Farmers stuck in this catch-22 situation have voiced their desperation, mentioning, "Whilst we faced them, they issued us cheques ranging from ₹15 lakh to ₹70 lakh. However, the cheques bounced when we deposited them inside the financial institution. Over four hundred farmers from Telangana, Andhra Pradesh, Tamil Nadu, and Karnataka had been cheated on this rip-off, main to a lack of around ₹100 crore. There are suspicions of political involvement. We filed a criticism at a Chennai police station, but the police didn't take any motion. Even the GST number and FSSAI license supplied during the course of the agreement were determined to be fake. We urge the chief Ministers of Telugu states to interfere and supply justice. otherwise, we are left with out an alternative but to the hotel to suicide."

The plight of those farmers highlights the risks worried in unconventional agricultural investments and the significance of rigorous due diligence. It additionally underscores the urgent want for powerful legal and governmental intervention to save such frauds from taking place. With farmers threatening drastic measures in the face of their losses, the call for justice grows louder, disturbing on-the-spot interest from the government to cope with this grievous injustice.

source url