Andhra Pradesh Political News

HC allows AP Govt to pay deposit amount to agrigold company subscribers

The Telangana High Court today allowed AP government to  deposits to the subscribers, who have deposited less than Rs.20,000 in the  now bankrupt Agrigold company. It said that it didn’t have any objections for making of the payment to all the subscribers, who belong to AP state.

The AP government told the HC that a CI of CID would gather the details of the depositors through ward secretariats. It also said that the details so gathered would be observed by CID DSP and RDO and added that the secretary of the district legal services authority, district collector and district SP would certify the details.  It also said that it would deposit the money directly into the bank accounts of all eligible depositors through the district collector. Responding to the arguments, the HC has asked the AP government to complete the entire process before March 31,2021.

The HC ha also heard a petition related to the transfer of the case to AP high court. Responding to it, it made it clear that the Chief Justice of the HC had been vested with powers to transfer the case to the AP High Court. It later adjourned the case for two weeks .

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