HYDERABAD: A division bench of the Hyderabad High Court on Tuesday directed the AP government to take steps ensuring that all the directors of scam hit Agri Gold consortium, presently lodged in various jails, are brought to Eluru district jail by October 30 and put them till November 30 to facilitate the due diligence exercise taken up by the Delloite firm on behalf of Essel-Zee group for taking over the company.
The bench also directed the Income Tax department, AP CID, government departments and Banks concerned to cooperate with the Delloite firm that is carrying out the due-diligence exercise.
The bench was passing this order in batch petitions filed by the TS Agri Gold customers and agents welfare association and others seeking CBI probe into Agri Gold scam and return of the depositors’ monies. The counsel for Delloite told the court that the company’s chairman was not able to reply to many issues saying that he needs to contact his directors who were put in different prisons in the state.
The bench then directed state government to take steps ensuring that all directors concerned be lodged in Eluru prison for one month i.e. from October 30 to November 30. The bench made it clear that the due diligence exercise shall be deemed to have begun from October 30.
The bench did not appreciate action of Agri Gold management in offering such properties for sale which are not capable of being sold. The bench posted the matter to December 4.