A division bench of the Hyderabad High Court comprising Justice V. Ramasubramanian and Justice S.V. Bhatt on Friday directed the governments of Andhra Pradesh and Telangana to permit Dr. Subhash Chandra Foundation to access all the documents pertaining to the properties of the AgriGold consortium, as it deposited ₹10 crore.
The foundation, a not-for profit body that is part of the Essel group, which includes Zee TV, earlier informed the High Court that it wanted to take over the AgriGold consortium and it needed time to finalise this deal. The bench directed it to deposit ₹10 crore as security.
As the foundation made the deposit, the bench asked the authorities to give access to records to this entity as it would verify the documents, titles etc., legally called due diligence.
More assets for auction
The bench was dealing with a case filed by the depositors who complained that the officers had failed to protect their interests when the AgriGold management did not pay the amounts due to them. In response to the plea, it directed the authorities to set up an e-portal for auctioning the select identified properties.
On Friday, the bench asked the officers, the depositors and the AgriGold management to identify some more properties which could be put for auction. The case will be listed on October 10.
