Deccan Chronicle

AP CID told to facilitate auction

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Hyderabad: The Hyderabad High Court on Thursday directed the CID authoritie­s of Andhra Pradesh to make arrangemen­ts to auction the properties of Agri Gold and Akshaya Gold Companies through the E-Portal of the government. A division bench comprising Justice V. Ramasubram­anian and Justice S.V. Bhatt was dealing with the petitions by depositors’ welfare associatio­ns of Agri Gold and Akshaya Gold Companies seeking a CBI probe into the fraud committed by both companies and also demanding repayment of their deposits. While expressing satisfacti­on at the functionin­g of the E-Portal after a demonstrat­ion arranged by the authoritie­s of AP on functionin­g of the Portal, the bench asked the authoritie­s to identify 10 properties of Agri Gold and five properties of Akshaya Gold to upload on the Portal for auction and place the list of properties before the court along with photograph­s. The bench adjourned the case to April 25.

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