HYDERABAD: The Telangana High Court, on Monday had given its approval for the Andhra Pradesh Government to disburse Rs 1,150 crore to depositors who had invested Rs 20,000 or less in the company.
A division bench headed by Justice M.S. Ramachandra Rao asked the Government to complete the process before March 31, 2021.
The Bench had also asked the Government Counsel as to how they would identify the genuine depositors. The Government explained that the CID would gather details of the depositors through ward secretariats.
The details would then be verified by the Deputy Superintendent of Police and the Revenue Divisional Officer. The secretary of the District Legal Services Authority, the Collector and the Superintendent of Police would also certify the details. After which the Government would deposit the money directly into the bank accounts of eligible depositors through the District Collectors.
The AP Government had also requested for the transfer of the AgriGold related cases to the AP High Court, to which the bench said that the Chief Justice of the Telangana High Court had been vested with the power to transfer the case.