AgriGold: ‘Deposit ₹100 crore to prove bona fides’

The case has been listed for August 31

August 17, 2017 01:01 am | Updated 01:01 am IST - HYDERABAD

A division bench of the Hyderabad High Court comprising Justice V. Ramasubramanian and Justice S.V. Bhatt on Wednesday asked the entity which wanted to take over the properties of the AgriGold to deposit ₹100 crore to prove its bona fides.

The bench was dealing with cases filed by the AgriGold depositors and agents seeking CBI probe and recovery of money from the consortium.

The bench ordered e-auction of properties and it was examining the bids.

On Wednesday, the company from north India said it had checked the records and verified the title etc.

The bench wondered how in such a short time all this due diligence was done and asked the company to deposit ₹100 crore to examine its claim to purchase all the properties.

The bench reminded the management of AgriGold that they were ready to bring buyers who would offer six times the price offered in e-auction.

The case is listed for August 31.

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