High Court clears auction of AgriGold assets on Dec 21

Hyderabad High Court on Monday granted the state government permission to auction the assets of AgriGold company and refund the same to the customers who made deposits with the firm.

The High Court directed the firm directors to submit a list of companies assets in a sealed cover on December 19. The Court directed the state government to auction the properties in the first phase on December 21. The Court posted the matter for next hearing on November 21.

It may be recalled that AgriGold which collected deposits to the tune of over Rs 6,000 crore was unable to return the same. A PIL was filed in the High Court which cleared selling of company’s assets to refund the deposits to its customer. (INN)