Sahara’s plea to stop Aamby Valley auction rejected by Supreme Court

  • Sahara’s plea to stop Aamby Valley auction rejected by Supreme Court
10-08-2017 | Pratidin Bureau. |

The Supreme Court on Thursday rejected Sahara chief Subrata Roy's plea to put on hold the auction process of the group's project Aamby Valley in Pune district of Maharashtra.

A bench of justices Dipak Misra, Ranjan Gogoi and A K Sikri said, "The prayer of the contemnor is hereby rejected."

Appearing for the Sahara, senior advocate Kapil Sibal said that the auction process should be put on hold till September so that his client could arrange INR 1,500 crore to be deposited into Sebi-Sahara account. However, the bench said that it will pass orders at an appropriate time.

The Sahara Group had earlier asked for a time period of 18 months' to repay around INR 9,000 crore balance amount of the principal amount of INR 24,000 crore.

Tags : Sahara Group Sahara Scam SEBI Subrata Roy Aamby Valley


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