Start e-auctioning of Agriculture Gold Properties: HC to Panel

Published: 01st January 2016 05:59 AM  |   Last Updated: 01st January 2016 05:59 AM   |  A+A-

HYDERABAD:  A division bench of the Hyderabad HC on Thursday directed the three-member committee to begin the process of e-auctioning of identified properties of Agri Gold company with the firms which were approved by it.

The bench comprising Acting Chief Justice Dilip B Bhosale and Justice SV Bhatt which was dealing with petitions filed by the Telangana Agri Gold customers and Agents’ Welfare Association, represented by its president A Ramesh Babu of the city, and others seeking probe either with the CBI or ED into Agri Gold deposits scam, has earlier appointed the committee headed by Justice T Ch Surya Rao, retired HC judge, to oversee the process of auctioning of properties.

The petitioners charged the Agri Gold management with duping depositors to a tune of about `7,000 crore, and urged the court to issue directions to the authorities for repayment.     

On Thursday, advocate Ravi Prasad, appearing for the committee, informed the court that the committee has selected MSTC and other two firms for auctioning of the properties. These firms have agreed to the conditions putforth by the committee. In the first phase, about six properties would be given to these firms for auctioning.

Taking these submissions into consideration, the bench directed the committee to go ahead with auctioning.

Meanwhile, special government pleader of AP Krishna Prakash, appearing for the CID, submitted that there was no need to have custodial interrogation of the accused in the case. Till now, the accused were not arrested as they are cooperating with the investigating agency, he added. The bench then asked the reason for delay in filing the charge sheet.In reply, Krishna Prakash said that the probe agency was awaiting for reports from the forensic science lab.

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