AP and TS govts. asked to file counters in Akshaya Gold Scam

Hyderabad: The Andhra Pradesh and Telangana governments have been asked to file individual affidavits by Friday by a division bench of Hyderabad High Court seeking to know the investigation status filed against Akshaya Gold group of companies which duped more than four lakh people by collecting huge amounts.

Counsel for Telangana state Sharat Kumar apprised the court that the investigation is handled by Andhra Pradesh police as the documents are with them. The AP counsel informed the Court that all the properties of the company have been seized.

The PIL filed by the Akshaya Gold Customers and Agents' Welfare Association was represented by VSS Purnachandra Rao and is being heard by a division bench comprising of Chief Justice Dilip B Bhosale and Justice P Naveen Rao

Mr Rao, urged the bench to appoint a committee headed by a retired judge to look into the matter methodically for a quick repayment to the depositors. The company collected Rs. 600 crore from over four lakh people of both the states by allegedly duping them.