AP Gears up for Crucial Legal Battle

Andhra Pradesh government is gearing up to approach Supreme Court once again over the division of assets and liabilities of 142 institutions present under Section 9 and 10 of Andhra Pradesh Reorganization Act. Despite Supreme’s directive, Telangana is not co-operating to the division.

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The Apex court mandated Center to interfere and resolve the issue in two months in case the deadlock is not solved. Center convened a meeting with both the state government but did not arrive at any conclusion. The deadline imposed by Supreme over this is finishing by August 6th and AP government is planning to approach Supreme after that.

These institutions have 16000 Crore deposits in their bank accounts. The value of the lands and the assets of these institutions run in to another 10000 Crore. The Cash Strapped state had pinned high hopes on this money to steer it out of trouble in this financial crisis.