Esselgroup is ready to take over Agrigold


Hyderabad: The Deloitte firm filed an additional affidavit in the High court which says that the Dr.Subash Chandra foundation a not -for -profit group is willing to take over the Agrigold. They are willing to take over all the 175 companies which belong to the Agrigold. They asked four months of time to calculate the properties and to know all the details of the properties. A.Ramesh Babu, Tirupati Rao filed a petition on behalf of all the depositors, agent welfare association who is betrayed by Agrigold. They are seeking a CBI investigation on this case. This case was heard in the presence of Justice V Ramasubramanian and Justice S V Bhatt on Monday ( September 11).

Agrigold:A.Ramesh Babu, Titupathirao filed a petition in the court about seeking the CBI investigation on the cheating of Agrigold. They filed the Public Interest Litigation (PIL ) petition on behalf of all the depositor, agents association who is betrayed by the Agrigold. This was heard in the Judiciary on September 11th in the presence of Justice V Ramasubramanian and Justice S V Bhatt.

Sri Raghuram informed to the bench that the foundation is willing to deposit 1000 crores. But the bench is expressed it’s unwilling regarding this issue. The bench questioned what would be the case if they say they won’t take over the company after the 4 months. Raghuram informed to the bench if the foundation couldn’t take over the Agrigold you can cut off some amount of money which the foundation deposited. The bench asked the foundation to pay money to the small depositor.

There are so many Agrigold depositors throughout the country.  Agrigold has to pay Rs 6,400 crores to its depositors. The CID officials have to submit the details of depositors below Rs 5,000 and below Rs 10,000 to the bench. The petitioner’s lawyer Arjun Kumar suggested that the interests of the small depositors must be cleared. He also asked the time reduction for due diligence from four months to two months, But the bench did not agree to reduce the time. MMR groups submitted a cheque for Rs 4.11 crore as 25 per cent of the amount which it got in e-auction to the court. The remaining 75 percent would be given by September 30. The bench adjourning the case to September 14.

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