Hyderabad: C1 India Pvt Ltd, the auctioning agency for Agri Gold properties, on Thursday differed with the percentage of commission offered by the three-member committee headed by a retired judge.
The committee, which was constituted to oversee the auction, has fixed 0.2 percent as processing fee (commission) for auctioning the properties.
Counsel representing the company told a division bench comprising Acting Chief Justice Dilip B. Bhosale and Justice S.V. Bhatt that the committee fixed processing fee was quite low and sought the charges be fixed at 0.5 per cent.
The bench was dealing with a PIL case filed by the Telangana Agri Gold customers and agent’s welfare association, represented by its president A. Ramesh Babu of the city.
The bench suggested to the agency to agree to the 0.2 per cent commission, in the interest of lakhs of investors and depositors of the scam-hit company, and made it clear that if it does not agree to the above charges, then the works will be handed over to another agency.
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