Auction Sahara’s Aamby Valley property: SC asks official receiver

Photo of the Supreme Court.

The Supreme Court of India today asked the Bombay High Court’s official receiver to help the liquidator to auction the Aamby Valley property of the Sahara group.

A bench of Chief Justice Dipak Misra, Justice Ranjan Gogoi and Justice A.K. Sikri said that it wanted the property to be auctioned so the high court’s receiver will be appointed to help in auctioning.

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The official liquidator of the court to take the help of the Receiver and ensure that the property is auctioned, said the bench in the order which came after hearing market regulator Sebi’s plea seeking contempt action against the Sahara group for allegedly obstructing the auctioning process of Aamby Valley.

Earlier, the top court had directed the auction of Aamby valley to recover money that the Sahara group has to pay to the market regulator SEBI for returning investors money that its two companies SIRECL and SHICL had raised from investors in 2007 and 2008.

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