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HC pulls up police for tardy probe
The High Court at Hyderabad on Monday made it clear that it would not hesitate to hand over investigation into AgriGold scam to CBI if the AP police continued to dilly-dally in the investigation. A division bench comprising Acting Chief Justice Dilip B Bhosale and Justice S V Bhatt made its intention clear while hearing the PIL on Agrigold issue.Â
Division bench makes it clear that the court does not hesitate to hand over the investigation to CBI, if need be
Hyderabad: The High Court at Hyderabad on Monday made it clear that it would not hesitate to hand over investigation into AgriGold scam to CBI if the AP police continued to dilly-dally in the investigation. A division bench comprising Acting Chief Justice Dilip B Bhosale and Justice S V Bhatt made its intention clear while hearing the PIL on Agrigold issue.
It reprimanded the AP police for the manner in which they were investigating the case and warned that the Court would pass strictures against the Investigating Officer Dwaraka Tirumala Rao for the lack of progress in the investigation. The counsel for the Committee formed by the Court to oversee the sale process of AgriGold assets Ravi Prasad submitted the interim report about the online auction sale of assets.
There was no response from bidders for the properties and it was felt that overpricing was one of the reasons. The bench at this stage expressed doubts about the AgriGold management's manner of acting and warned that serious consequences would follow if it was found that they were misleading the Court.
Justice S V Bhatt said that not even one hundredth of the claims made by AgriGold management regarding sale outcome were likely to reflect in reality. The bench appointed Justice G V Seethapathi, former judge of the High Court as chairman of the committee to oversee the sale of prime properties and the distribution of the proceeds among the depositors.
Justice Surya Rao who was the chairman had passed away recently. The bench suggested that more visible advertisement campaign for the sale of properties in auction must be undertaken for better results especially in Karnataka where properties for auction in the first phase were located. The case has been posted to Friday.
