The Supreme Court on Thursday has again warned Sahara group chief Subrata Roy to stay away from proposed auction of the group's Aamby Valley project in Pune or it will send him to jail.
A bench of Chief Justice Dipak Misra and Justices Ranjan Gogoi and A K Sikri appointed the Bombay High Court as the receiver of the properties, including the land, spread over 7,000 acres with 99-year lease and said that the high court can adopt the necessary procedure to facilitate the auction.
Close the chapter
On being told that there were some obstructions including snapping of water supply and locking up of properties, the bench said, "If it is so, then we will send this man (Roy) to jail and close the chapter."
Second largest employer
Senior advocate Arvind Datar, representing Sebi, submitted there have been advertisements by the group, claiming that it had Rs two lakh crore properties and was the second largest employer after Railways.
He also expressed apprehension that there could be encroachment in the properties to be auctioned over there.
Senior advocate Mukul Rohatgi, appearing for the group, submitted that it should be allowed to manage the township – with schools and hospitals - as it has been doing it for the last 20 years. "Attachement of properties does not mean that I am out," he contended.
The bench, however, shot back, "If you are in, you are obstructing the auction. We want the properties to be auctioned. Till the time of auction, we appoint Bombay HC as receiver."
The court also pointed out it has already ordered Mahrashtra DGP to provide assistance in the auction process. The court refused to consider a plea for buying of the group's two New York hotels, in view of the pending auction of Aamby Valley properties.
