SC to hear Sahara firm’s plea seeking approval for selling its assets to Adani Properties today

New Delhi: The Supreme Court is likely to hear on Tuesday Sahara India Commercial Corporation Ltd’s (SICCL) plea seeking approval to sell several of its key properties — including Amby Valley in Maharashtra and Sahara Shahar in Lucknow — to Adani Properties Pvt Ltd.

According to the court’s cause list, a special bench led by Chief Justice B R Gavai, along with Justices Surya Kant and M M Sundresh, will hear the matter at 2 pm.

SICCL has filed an interlocutory application through advocate Gautam Awasthi, seeking permission to sell 88 Sahara Group properties to Adani Properties under a term sheet signed on September 6, 2025. The company said the sale would help maximise asset value, settle liabilities, and comply with Supreme Court orders.

The plea noted that the Sahara Group has so far deposited around Rs 16,000 crore of the total Rs 24,030 crore principal amount into the SEBI–Sahara Refund Account by liquidating assets, while SEBI’s own efforts to sell properties have not yielded

results.

SICCL added that after the death of Sahara Group founder Subrata Roy in November 2023, the group lost its main decision-maker, leading to governance issues and difficulties in asset management.

To protect investors’ interests, the group’s family members have now resolved to expedite liquidation of assets at the best possible value.

The company claimed that market challenges, pending litigations, and lack of viable offers have hampered previous sale attempts, eroding buyer confidence.

The proposed transaction with Adani, it said, represents a “significant breakthrough” that could unlock value and ensure compliance with court-directed financial obligations.

The hearing will also coincide with pleas seeking release of salaries for Sahara Communications employees and requests for SEBI to release documents related to earlier property sales.

Earlier, on September 12, the apex court had ordered disbursal of Rs 5,000 crore from the Rs 24,030 crore deposited by Sahara to repay dues of its cooperative society

depositors.