Hyderabad: The Essel-Zee Group’s Subhash Chandra Foundation on Tuesday informed the Hyderabad High Court that it will withdraw its application moved on Monday seeking refund of Rs 10 crore deposit which was made to take over the Agri Gold Group of Companies.
The Essel Group, which had earlier informed the High Court that it was not interested in taking over the Agri Gold companies, on Tuesday surprisingly told the court that it is still in the race.
A division bench comprising Justice V. Ramasubra-manian and Justice S.V. Bhatt was dealing with a PIL by the depositors and agents seeking a CBI probe into the Agri Gold companies fraud.
P. Raghuram, senior counsel appearing for Essel Group, urged the bench to permit them to withdraw their application moved for refund of the deposit.
Dammalapati Srinivas, advocate general of the state of Andhra Pradesh submitted that the state government has proposed to constitute a committee headed by the district judge and collector and district registrar as members to auction the properties of Agri Gold.
Reacting to the submissions, the bench said that the court is concerned about the depositors not about the bankers. The bench adjourned the case to Friday.
