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AgriGold asked to submit details of prospective investors
A division bench of the High Court at Hyderabad comprising Justice V Ramasubramanian and Justice S V Bhatt on Tuesday called for details of the prospective investors and all “unencumbered properties” of AgriGold.
A division bench of the High Court at Hyderabad comprising Justice V Ramasubramanian and Justice S V Bhatt on Tuesday called for details of the prospective investors and all “unencumbered properties” of AgriGold.
The company is in multiple litigations and its Chairman is lodged in a jail in Eluru. The management was earlier directed to place all its properties for auction by a three-member committee.
Senior Counsel L Ravichander informed the court that the company was willing to alienate the properties at a price and make good the payments due. He placed before the court two alternative plans. He, however, suggested that revealing the details could be counter-productive.
The bench then asked the counsel to place various details, including the name of the prospective purchasers, rates quoted and the time span in which they would be going to make the payments in a sealed cover and directed the matter to be listed on September 6.
