Supreme Court orders attachment of Sahara”s prime Aamby Valley property

Supreme Court orders attachment of Sahara”s prime Aamby Valley property

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Aamby Valley
Aamby Valley city

The Supreme Court directed attachment of Sahara Group‘s prime property worth Rs 39,000 crore at Aamby Valley in Pune for realization of money to be paid to its investors.  The apex court also asked Sahara Group to provide it within two weeks the list of “unencumbered properties”, which can be put on public auction to realize the remaining over Rs 14,000 crore of the principal amount of around Rs 24,000 crore that has to be deposited in the SEBI-Sahara account for refunding money to the investors.  A bench headed by Justice, Dipak Misra, which will hear the matter again on February 20, noted that out of the principal amount, the group has deposited around Rs 11,000 crore and it has to deposit over Rs 14,000 crore more.  The interest on the principal amount till October 31, 2016 would lead to a liability of Rs 47,669 crore on the Sahara Group, which deposited over Rs 600 crore in accordance with the January 12 order by which extension of time beyond February 6 was refused.  The apex court had said failure to pay the said amount would lead Sahara Group Chief, Subrata Roy going back to jail.

Source: ptinews.com

Image source: vagabondimages.in

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