Hyderabad High Court allows Haailand’s auction for Rs 600 crore

DECCAN CHRONICLE.
Published Dec 22, 2018, 1:40 am IST
Updated Dec 22, 2018, 1:40 am IST
The theme park and prime property of the Agri Gold group of companies, keeping in mind the money to be paid to depositors with the firm.
Hyderabad High Court
 Hyderabad High Court

HYDERABAD: The Hyderabad High Court on Friday allowed the auction of Haailand, the theme park and prime property of the Agri Gold group of companies, keeping in mind the money to be paid to depositors with the firm.

The court has fixed the minimum price at Rs 600 crore. A division bench comprising Justice V. Ramasubramanian and Justice S.V. Bhatt was dealing with a batch of petitions filed by the Telangana Agri Gold Customers and Agents Welfare Association and others seeking a CBI probe into the Agri Gold scam and to return the depositors’ money to the tune of Rs 6,000 crore.

 

Fixing the minimum price for Haailand, the bench asked Agri Gold and its ancillary company, Arka Group of Entertainers, to find the highest bidder above the upset price. 

It reminded the management of the companies that they had earlier stated that the property value was more than Rs 1,000 crore.

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Location: India, Telangana, Hyderabad




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