#SubrataRoy #AambyValley #Saharagroup #SupremeCourt #SEBI
set back to sahara notice to auction aamby valley issued.
In a setback for the Sahara group, the Supreme Court on Thursday rejected its plea to put the Aamby Valley auction on hold. Sahara had petitioned the top court to stop publication of auction notice for Aamby Valley on August 14. Sahara claimed it has entered into an agreement with a firm and has mortgaged the luxurious Aamby Valley City, near Pune. The Supreme Court had last month directed the Bombay High Court liquidator to start the process of selling Sahara's Aamby Valley property. Sahara was also asked to deposit Rs. 1,500 crore with market regulator Sebi by September 7.
Spread over 8,900 acres, Aamby Valley is Sahara's flagship project comprising luxury resorts and an airport. In April this year, the Supreme Court had ordered the sale of luxurious Aamby Valley project, valued at around Rs. 39,000 crore.
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