Andhra Pradesh CID submitted the list of AgriGold properties to High Court. The High Court has received a total of 229 assets worth 2000 crores.
Nine assets are most valuable which accounts to 1320crores. The CID in its report noted that Haailand resort spread across 85acres costs 600 crore rupees and the firm owns 150 crore commercial complex Vijayawada. In Keesara 150crores assets spread across 324 acres, likewise in Prakasham district it has a power plant worth 150 crores property spread across 50acres. Other assets are in Rajamundry, Chittoor and Gudur.
AP CID also submitted a list of Agrigold properties that are valued over Rs 50 crore and below Rs 50 crore. The report said that company has 228 crores bank loan. Telangana CID did not submit list of company properties in Telagana.
The bench had earlier mentioned that it will conduct open auction for properties over Rs 50 crore. But for the properties valued below Rs50 crore a continuous process of online auction will take place.
The Hyderabad High Court bench comprising Justice Ramasubramanian and Justice S.V. Bhatt directed the governments of Andhra Pradesh and Telangana State governments in designing an exclusive online portal for e-auction of the properties. It instructed the Special Government Pleaders to furnish the feasibility by next hearing scheduled on April 18.
