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SC orders attachment of Sahara's Aamby Valley property

In a big blow to beleaguered businessman Subrata Roy, The Supreme Court on Monday directed attachment of Sahara Group's prime property worth Rs 39,000 crore at Aamby Valley in Pune for realisation 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 realise 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.

M Post Bureau

M Post Bureau

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