Telangana High Court transfers AgriGold and Akshaya Gold cases to Eluru Court

A crucial development has taken place in the Agrigold and Akshaya Gold cases with the Telangana High Court has transferred the AgriGold and Akshay Gold cases to the Eluru court in Andhra Pradesh.

The High Court has clarified that the AgriGold and Akshay Gold disputes have been pending in the High Court for seven years and are being transferred to the Eluru Court. However, the High Court rejected the request of the depositors and banks to continue the trial in the High Court.

At the same time, the Telangana High Court has also transferred Rs. 50 crore acquired from property auction to Eluru court. The Eluru court was directed to consider the High Court orders to this effect. The High Court opined that the Eluru court has jurisdiction under the AP Depositors Protection Act.