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Sahara's Property for Sale: Premium Aamby Valley, Pune For Auction at Rs.37,392 Crore
Posted on: 16-08-2017 , 11:50:AM | DY365 Bureau

One of Sahara’s premium properties in Pune, Aamby Valley city project is put for public auction for a reserve price of Rs.37,392 Crore.

The Bombay High Court's Office of Official Liquidator on Monday puts up this auction four days after the Supreme Court declined Sahara chief Subrata Roy's plea to put the auction on hold.

Kapil Sibal, the lawyer appearing for Sahara, pleaded to the apex court for giving an extension but a three-judge bench of the apex court, headed by Justice Dipak Misra, refused to give any relief to Sahara.

According to an allegation by the SEBI, the company's chairman, Subrata Roy, had failed to comply with the 2012 apex court order directing him to return investors more than Rs.20,000 crore with 15% interest that his two companies Sahara India Real Estate Corp Ltd and the Sahara Housing Finance Corp Ltd had raised through optionally fully convertible debentures (OFCD) in 2007 and 2008.


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