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Details of AgriGold’s debts sought

It also sought directions to the income tax department to give tax details of the company for reducing the tax amount.

Published: 26th June 2018 02:17 AM  |   Last Updated: 26th June 2018 02:17 AM   |  A+A-

By Express News Service

HYDERABAD: The Subhash Chandra Foundation of Essel-Zee group on Monday urged the High Court to issue orders directing the AgriGold management to furnish details of the company’s debts till March 31, 2018 and to direct Andhra Bank and other banks and financial institutions concerned to give particulars of the debts of AgriGold group of companies.

Besides, it also sought directions to Andhra Pradesh and Telangana governments for submitting details of payments to be made to the depositors in both the states. It also sought directions to the income tax department to give tax details of the company for reducing the tax amount.

The counsel for foundation filed an affidavit before a division bench of justices V Ramasubramanian and SV Bhatt which was dealing with batch petitions filed by Telangana AgriGold customers and agents welfare association and others seeking CBI probe into AgriGold scam and return of depositors’ money.

The foundation, which came forward recently to take over the whole business of AgriGold, later took a U-turn saying that it was economically unviable. Taking another U-turn, it again showed interest and sought court’s permission to stay in the race to acquire the company. The bench made it clear that it cannot pass orders for a cut in income tax and details of dues to 32 lakh depositors. 


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