Allow sale of AgriGold assets in Amaravati: HC

Allow sale of AgriGold assets in Amaravati: HC

Allow sale of AgriGold assets in Amaravati: HC

 A High Court bench here on Thursday directed the AP government to allow auction of assets belonging to defaulting firm AgriGold located in Amaravati The bench expressed anger over the delay in granting necessary permission to e-auction the assets located under the Capital Region Development Authority (CRDA) by citing approved master plan for the construction of the new capital spread across 33,000 acres of land. Several of the AgriGold assets come under CRDA area. The Court asked the CRDA to present itself for the next hearing slated for 26 April.

On the other hand, the three-member committee appointed by the High Court to oversee the process of auction and distribution of assets informed the court that it has so far earned Rs 60 crore by selling assets under phase 1.

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