A division bench of the Hyderabad High Court, comprising Justice V. Ramasubrahmanian and Justice S.V. Bhat, on Monday declared the schedule for auction of 19 prime properties of Agri Gold consortium to facilitate some payments to the depositors. The open auction will be held on December 27 in the High Court.
The bench was fixing the upset price for each of these properties on Monday. The bench was dealing with a Public Interest Litigation filed by depositors contending that they were cheated by the Agri Gold consortium and sought action.
The bench took note of the rate as per the registration department, market value submitted by the officers and the rate offered by some proposed bidders and then fixed the upset price. Now the advertisement will be given on December 11 and inspection of properties can be done till December 18. Bids have to be submitted in sealed envelopes to the High Court before December 26. The bidders shall be present in the court hall on December 27 when the envelopes will be opened.
