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Court directs TS to act against Akshaya Gold management
The High Court at Hyderabad directed the Telangana government to act on the FIRs lodged against the Akshaya Gold management for duping lakhs of depositors in the State as also in Andhra Pradesh, Karnataka and Odisha. With this, the stage is set for arrest of Akshaya Gold top management for custodial interrogation into the scam, the modus operandi of which appears to be similar to AgriGold scam.
Hyderabad; The High Court at Hyderabad directed the Telangana government to act on the FIRs lodged against the Akshaya Gold management for duping lakhs of depositors in the State as also in Andhra Pradesh, Karnataka and Odisha. With this, the stage is set for arrest of Akshaya Gold top management for custodial interrogation into the scam, the modus operandi of which appears to be similar to AgriGold scam.
The division bench comprising Acting Chief Justice Dilip B Bhosale and Justice S V Bhatt was informed by the counsel for petitioner that it was the former top management and staff of AgriGold company, who resigned from that company, launched Akshaya Gold company. The Additional Advocate General for Andhra Pradesh Srinivas informed the court that they had filed 19 FIRs in the State and 18 persons were arrested by the police in 2012 itself.
But they were released on bail and investigation is still going on. The bench expressed unhappiness at the slow pace of probe and directed that it must be speeded up. The case was posted for hearing after two weeks.
