Live
- SCDRC vested with authority to enforce orders, issue warrants, rules Delhi High Court
- RTC Driver Dies of Heart Attack While Driving Bus
- Rs 1,000 crore earmarked for venture fund to Indian space startups: Minister
- Rahul Gandhi has not improved, he's aligned with anti-national elements: Union Minister Rijiju
- AI can help improve advanced pain management, find researchers
- Haryana sees 67.90 pc polling, says Chief Electoral Officer
- Gujarat to mark 23 years of progress under Narendra Modi's leadership with 'Vikas Saptah'
- Women’s T20 WC: Too soon to say anything, medics are looking at it, says Smriti on Harmanpreet’s injury
- World Cerebral Palsy Day: Raising awareness key to build inclusive society
- Militants in Gaza fire three rockets into Israel
HC junks petitions of former Agri Gold directors
The High Court in Hyderabad dismissed the petition filed by five directors of Agri Gold Company who sought quashing of criminal cases against them.
The High Court in Hyderabad dismissed the petition filed by five directors of Agri Gold Company who sought quashing of criminal cases against them.
Justice A Shankar Narayana gave this order on Monday after hearing the petition filed by A Uday Bhaskar Rao, A Subrahmanaya Sharma, AVenkata Siva Ram, KVS Sai Ram and A Seetha Rama Rao seeking quashing of criminal cases against them on the ground that they were directors of Agri Gold Company but resigned later on and they cannot be held responsible for subsequent events.
It may be noted that criminal cases were registered against the management of Agri Gold Company after it failed to pay the monies it collected from nearly 32 lakh depositors across the states of Andhra Pradesh, Telangana, Karnataka, Tamil Nadu and Odisha etc and the scam became clear.
The judge, in his order, noted that these directors floated new companies and monies were transferred from Agri Gold Company to these small companies.
The role of each of the petitioner in collecting deposits and the role in transferring money to other entities needs to be investigated and therefore at this stage the criminal cases cannot be quashed, the judge declared and dismissed the petition.
