Ready for CBI inquiry into Agri Gold scam: AP

TS not yet decided, counsel tells HC

In a significant development with regard to the Agri Gold Group of Companies scam, the AP state government on Wednesday informed the Hyderabad High Court that it was prepared to hand over the investigation to the CBI.

The High Court made it clear that though the case may be handed over to the CBI by both AP and TS, the auction of properties which has been going on under its supervision, will continue.

The court noted that the Karnataka government has already handed over the cases against Agri Gold to the CBI.

A division bench, comprising Acting Chief Justice Dilip B. Bhosale and Justice S.V. Bhatt was dealing with a petition by the Telangana Agri Gold customers and Agents’ Welfare Association, represented by its president A. Ramesh Babu of the city, seeking a probe either by the CBI or Enforcement Directorate into the deposits scam.

The cases against Agri Gold in AP and TS are currently being investigated by the CID of the states concerned.

While hearing the plea, the bench asked AP advocate-general D. Srinivas about the status of the investigation.

The AG told the bench that the AP government was prepared to hand over the case to the CBI, but it was worried that the delay that may be caused due to this could affect the interests of the depositors.

The bench told the AG to place the written proceedings with regard to handing over the case to the CBI before the court. The bench also sought the response of TS over handing the case over to the CBI.

While commencing the hearing, the bench asked counsel representing Agri Gold whether its order to deposit the `25 lakh with the registry had been complied with.

When counsel replied in the negative and tried place some proposal of transferring the company shares in the name of depositors, the bench expressed its disapprov- al at this and pointed that out since the beginning, the company management was trying to mislead the court by furnishing false information and was also avoiding extending cooperation to the committee set up to oversee the auction.

The bench adjourned the case to next Tuesday.