Press Esc to close
Friday 22 September 2017
News updated at 11:27 AM IST

SC orders attachment of Sahara's Rs 39k-cr Aamby Valley assets

Feb 7, 2017, New Delhi, DHNS 1:40 IST
The court's order came even as Roy's counsel, senior advocate Kapil Sibal, submitted that the group had deposited about Rs 600 crore in Sebi's account. PTI File Photo.
The Supreme Court on Monday ordered attachment of Sahara’s Aamby Valley properties worth Rs 39,000 crore and warned that it may go for selling them if the group failed to repay the amount to the Sebi.

A three-judge bench presided over by Justice Dipak Misra also directed the Sahara group to furnish within two weeks a list of properties without any encumbrances to enable it to sell those to repay the Rs 14,000 crore remaining principal amount to market regulator Sebi.

“We are not sending you to custody, we don’t want token amount of Rs 600 crore. We now want the list of properties to be sold for recovery of the money,” the bench said, giving two weeks’ time to Sahara group head Subrata Roy.

The court’s order came even as Roy’s counsel, senior advocate Kapil Sibal, submitted that the group had deposited about Rs 600 crore in Sebi’s account.

The counsel also submitted that the group would clear the principal remaining amount by the end of July, 2019.

Advocate Pratap Venugopal, appearing for Sebi, as well as amicus curiae, senior advocate Shekhar Naphade, submitted that the group owned property at Aamby Valley City in Pune, Maharashtra which was sufficient for realisation of the whole amount.

Sebi’s counsel insisted that the property should be attached so that Roy and others would make all efforts to deposit the amount.

Go to Top

Photo Gallery
Vehicles wade through a flooded road after heavy rains in Thane district of Maharashtra on...

Vehicles wade through a flooded road after heavy rains in Thane district of Maharashtra on...

Real Madrid's Cristiano Ronaldo closes his eyes during Spanish the La Liga soccer match between...

Real Madrid's Cristiano Ronaldo closes his eyes during Spanish the La Liga soccer match between...

A woman covers herself with a plastic bag as she makes her way to work as Hurricane Maria...

A woman covers herself with a plastic bag as she makes her way to work as Hurricane Maria...

An artisan applies finishing touches on an idol of the Hindu goddess Durga, before it is...

An artisan applies finishing touches on an idol of the Hindu goddess Durga, before it is...

Bollywood actress Nidhhi Agerwal showcases a creation by designer Rajat K Tangri during the...

Bollywood actress Nidhhi Agerwal showcases a creation by designer Rajat K Tangri during the...

People pushing a car at a waterlogged road after heavy rains in Varanasi on Thursday...

People pushing a car at a waterlogged road after heavy rains in Varanasi on Thursday...

Policemen guard outside former chief minister S M Krishna's son in-law Siddartha's corporate ...

Policemen guard outside former chief minister S M Krishna's son in-law Siddartha's corporate ...

Indian players celebrate the dismissal of Australia's David Warner...

Indian players celebrate the dismissal of Australia's David Warner...

Actor Kamal Haasan with Aam Aadmi Party (AAP) chief and Delhi Chief Minister Arvind Kejriwal...

Actor Kamal Haasan with Aam Aadmi Party (AAP) chief and Delhi Chief Minister Arvind Kejriwal...

A man is rescued from a collapsed building in the Condesa neighborhood of Mexico City after an...

A man is rescued from a collapsed building in the Condesa neighborhood of Mexico City after an...

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523
Powered by Yodasoft Technologies Pvt. Ltd.