INSUBCONTINENT EXCLUSIVE:
Sahara Group may sell Aamby Valley in small parts, Supreme Court ordered
The Supreme Court on Thursday allowed Sahara Group to sell properties in any parcel of
its choice at the Aamby Valley City Project in Maharashtra by May 15, reported PTI
The sale of property has to be completed on or before May 15 and proceeds must be deposited in SEBI-Sahara refund account, ordered the apex
High Court's official liquidator will proceed with the proposed auctioning process to sell the property.The Supreme Court in February had
allowed the Sahara's project Aamby Valley to be split it into small parcels of land as there were no takers for the purchase of entire
The order was issued after the liquidator, the Bombay High Court, made a submission before the top court that the entire landmass of Aamby
Valley failed to draw any takers despite ample publicity of the intent to sell it via two advertisements published in 142 dailies.: Get
Sahara's Aamby Valley Auctioned, Supreme Court Tells Bombay High Court ReceiverSpread over 8,900 acres, Aamby Valley is Sahara's flagship
project comprising luxury resorts and an airport and valued at around Rs 38,000 crore.: Sahara's Aamby Valley To Be Auctioned In Parts, Says
Supreme CourtMarkets regulator Securities and Exchange Board of India (SEBI) said that the Sahara Group owes Rs
11,569 crore to investors, a claim which the group disputes
The Sahara Group told the top court that only Rs
