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HC order rekindles hopes of Agri Gold depositors
The PIL bench of the High Court at Hyderabad comprising Acting Chief Justice Dilip B Bhosale and Justice SV Bhatt on Monday passed orders that could raise hopes for many of those who invested their savings with Agri Gold companies. The bench was dealing with a public interest writ petition filed by the Telangana Agri Gold Customers and Agents Welfare Association.
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Hyderabad: The PIL bench of the High Court at Hyderabad comprising Acting Chief Justice Dilip B Bhosale and Justice SV Bhatt on Monday passed orders that could raise hopes for many of those who invested their savings with Agri Gold companies. The bench was dealing with a public interest writ petition filed by the Telangana Agri Gold Customers and Agents Welfare Association.
It is the case of the petitioner that around 40 lakh depositors were suffering due to non-payment of maturity amount. The petitioner pointed out that around 70 depositors and agents committed suicide due to non-payments by the company. In July, the High Court had directed the governments of the twin states of Telangana and Andhra Pradesh to submit a report detailing the process of cases registered and steps taken with regard to non-payment of deposits to the customers by Agri Gold Farms Ltd.
Counsel for the company informed the court that the company was willing to sell some properties to settle the dues. The bench directed the company to submit in a sworn affidavit the details of the properties that the company was willing to sell.
