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3-member Panel to Oversee e-auction of Agri Gold Properties

Published: 17th October 2015 03:57 AM  |   Last Updated: 17th October 2015 03:57 AM   |  A+A-

HYDERABAD:The three-member committee appointed by the Hyderabad High Court to oversee e-auction of properties of Agri Gold company, is headed by Justice T Ch Surya Rao, retired judge of the High Court. IAS officer K Ramakrishna Rao, secretary to finance, Telangana state and K Narasimha Murthy, financial expert, are the other members of the committee.

It may be recalled that a division bench comprising Acting Chief Justice Dilip B Bhosale and Justice S V Bhatt while dealing with a PIL case by the Telangana Agri Gold Customers and Agents Welfare Association, has constituted the three-member committee to oversee e-auction of properties by an agency ‘C1 India Private Limited.’ The petitioner association sought probe either with the CBI or ED into Agri Gold deposits scam which was to a tune of about Rs 7,000 crore. About 32 lakh people have made deposits in the company.

As per the court order, the e-auction of properties shall be conducted under the supervision of the above committee which shall issue appropriate directions for conducting uninterrupted sale and see that the properties fetch maximum price and the sale is complete within the stipulated time. The bench appointed P Ravi Prasad, practising advocate of the high court, to represent the committee in the ongoing legal proceedings.

The PIL matter will come up for hearing on October 26.



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