The Supreme Court on Monday ordered the auction of Sahara’s Aamby Valley township over the conglomerate’s failure to deposit money for refunding to its investors.
The apex court has directed the Bombay HC’s official liquidator to oversee the sale of the property. It has also ordered Sahara chief Subrata Roy to appear before it on 28 April.
In March, the Supreme Court had directed the Sahara Group to deposit Rs 5092.6 crore by 7 April in the SEBI-Sahara account to keep its chief Subrata Roy out of jail. The amount was meant be refunded to investors in Sahara’s schemes.
A bench headed by Justice Dipak Misra had refused to give six months’ time to the group to sell its properties but allowed it to sell assets, mentioned in the list furnished by it, to raise the money to be refunded.
(With inputs from ANI.)