Hyderabad: The Hyderabad High Court directed the AP government on Monday to take on the responsibility of selling the seven commercial properties belonging to the AgriGold group of companies, located in and around Vijayawada.
A division bench comprising Justice V. Ramasubramanian and Justice S.V. Bhatt while hearing a PIL by AgriGold Depositors and Agents Welfare Association seeking a CBI probe into the scam and repayment for about 32 lakh depositors across seven states directed that the Additional DGP (CID) of AP, who is the competent authority, to invite bids.
The bench directed the CID chief to arrive at the market value and fix 10 per cent of it as upset price. The exercise should be completed by November 21. The advertisement should be issued on or before November 28 in an English newspaper, a regional daily and other platforms, inviting offers in sealed covers to the Registrar (Judicial) of High Court.
The bench said that the offers should reach the court on or before December 16 and the bids will be opened on Dec. 19 at 2.30 pm in the court. The bidders will be invited to be present in the court at that time. Mr Krishna Prakash, special counsel for AP, submitted in a sealed cover the list of properties.
