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HC Allows AP To Pay Deposit Amount To Agrigold Subscribers

The Telangana High Court today allowed Andhra Pradesh to pay the deposit amounts to subscribers who had deposited less than Rs 20,000 in Agrigold.
Hyderabad | 9th November 2020
The Telangana High Court today allowed the Andhra Pradesh government to pay their deposit amounts to subscribers who had deposited less than Rs 20,000 in the now bankrupt Agrigold company.

It said that it didn't have any objection to the AP government making the payment to all the subscribers belonging to AP.

The AP government told the HC that the CID would gather the details of the depositors through the ward secretariats, and that the details so gathered would be examined by competent authorities and certified.

It also said that it would deposit the money directly into the bank accounts of all the eligible depositors.

Responding to the arguments, the HC asked the AP government to complete the entire process before March 31, 2021.

The HC also heard a petition related to the transfer of the case to the AP High Court. Responding to it, it said that the Chief Justice of the Telangana HC had been vested with the powers to transfer the case to the AP High Court.

It later adjourned the case by two weeks.
filed in:  Telangana, Andhra Pradesh, Social Welfare, Courts, Legal, Agrigold, High Court, Telangana High Court
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