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Telangana, AP to submit list of Akshaya Gold assets by Jan 5
The High Court at Hyderabad has directed the Andhra Pradesh CID to come up with valuations for selling high worth properties of scam-hit Akshaya Gold company by January 5 next year, so that the process of auctioning those properties can be initiated.
Hyderabad: The High Court at Hyderabad has directed the Andhra Pradesh CID to come up with valuations for selling high worth properties of scam-hit Akshaya Gold company by January 5 next year, so that the process of auctioning those properties can be initiated.
A division bench comprising Justice V Ramasubramanian and Justice S V Bhatt gave this direction while hearing public interest litigation petition filed by Akshaya Gold Depositors and Agents Welfare Association seeking justice.
The bench perused the list of seven high worth properties and their approximate valuations submitted by the counsel for petitioners and the list of 17 properties given by Special Government Pleader for AP Krishna Prakash.
The bench observed that both the lists may be combined and also expanded if necessary to prepare for the auction of those properties.
The Government Pleader informed the court that the CID is short of staff and the existing officers are already engaged in the work of auctioning of AgriGold properties.
He sought time for coming up with valuations of high worth Akshaya Gold properties. The bench directed him to place the valuations by the time of next hearing on January 5.
The Special Government Pleader for Telangana Sharat Kumar also placed an affidavit in which 12 properties in Telangana were listed out. He, however, informed the bench that none of these were high worth.
