HC orders Agri Gold chairman to attend court's next hearing

Hyderabad, Oct 1: The High Court of Judicature at Hyderabad today ordered the chairman of the fraud-hit Agri Gold company to be present in the court during the next hearing. The high court today heard arguments with reference to two properties of the company under the jurisdiction of capital city of Andhra Pradesh, Amaravati. Advocates for the aggrieved parties argued that the sale of these lands that fall under the Capital Region Development Authority and as such rules do not permit them to be auctioned. They also urged the court to direct the company to identify alternative properties of equal value outside the CRDA limits so that they can be auctioned to raise money for distribution to the aggrieved depositors. In this connection, the court directed the company to file an affidavit listing out the details of all the properties of the firm. The court posted the next hearing in the case to October 5.