SC orders attachment of Sahara Aamby Valley in Pune

RSTV Bureau
File photo of Supreme Court of India.

File photo of Supreme Court of India.

The Supreme Court on Monday ordered the attachment of Sahara group’s prime property worth Rs 39,000 crore in Pune, the Aamby Valley.

Aamby Valley City is a township developed by the Sahara Group.

The apex court has said this was needed to force Sahara and Subrata Roy to expedite the payment of balance Rs 14,779 crore.

The bench of Justice Dipak Misra, Justice Ranjan Gogoi and Justice A.K. Sikri also asked Sahara to provide a list of unencumbered properties by February 20.

These properties would be put to public auction to realise the balance money.

Sahara has so far paid a little over Rs 11,000 crore and had sought time till July 2019 to deposit the balance of Rs 14,779 crore with the SEBI.

Sahara had deposited a little over Rs 600 crore with SEBI on Monday as directed by the Centre by its November 28, 2016, order for continued parole of Subrata Roy and others.

However, the Supreme Court said that the repayment roadmap extending till July 2019 is too long and it wanted to auction the properties to realise the dues. The court has posted the matter for hearing on February 20.