LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » Companies News

Supreme Court approves term for Sahara's Aamby Valley auction

SC asked Bombay HC official liquidator to proceed with publication of sale notice of Sahara's prime Aamby Valley properties. 

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Supreme Court approves term for Sahara's Aamby Valley auction
Sahara Group chief Subrata Roy. Photo: IANS
Written By: ZeeBiz WebTeam
Updated: Tue, Jul 25, 2017
05:44 pm
Mumbai, ZeeBiz WebDesk
RELATED NEWS
Sahara-Sebi case: Two Sahara group firms move SC, file contempt plea against market regulator Sahara-Sebi case: Two Sahara group firms move SC, file contempt plea against market regulator
Sebi wants Sahara Group chief Subrata Roy to pay $8.43 bn, says cancel parole if tycoon fails to pay; petition filed with SC Sebi wants Sahara Group chief Subrata Roy to pay $8.43 bn, says cancel parole if tycoon fails to pay; petition filed with SC
Sahara Group demands ban on Netfix series 'Bad Boy Billionaires' Sahara Group demands ban on Netfix series 'Bad Boy Billionaires'
Airport Authority threatens to seize Sahara's Mumbai hotel Airport Authority threatens to seize Sahara's Mumbai hotel
Big setback for Subrata Roy led Sahara over Rs 14,000 cr case; what Sebi ordered Big setback for Subrata Roy led Sahara over Rs 14,000 cr case; what Sebi ordered

The Supreme Court on Tuesday while approving terms for Sahara's Aamby Valley auction,  ordered Sahara Group to deposit Rs 1,500 more by September 7.

Senior advocates Kapil Sibal, appearing for the Saharas, informed apex court that the company has deposited Rs 247 crore with Securities and Exchange board of India and balance
amount of Rs 305.21 crore is yet to be deposite in the refund account.

In today's hearing, the top court extended till October 10 the relief of parole granted to the Sahara chief Subrata Roy. 

Roy has spent almost two years in jail and been on parole since May 6 last year. The parole was granted the first time to enable him attend the funeral of his mother. It has been extended since then.

Moreover, SC asked Bombay HC official liquidator to proceed with publication of sale notice of Sahara's prime Aamby Valley properties. 

On July 5, the apex court had pointed out that Sahara Group was still short of Rs 9,000 crore of the principal amount of Rs 24,000 crore to be deposited in the SEBI-Sahara account to refund its investors.

Taking note of this, the bench had said, "Thus, the total amount that has been received by the SEBI-Sahara account is Rs 1500.40 crores. Thus, the commitment given on June 19 as regards the first cheque stands satisfied".

It also took on record that a cheque amounting to Rs 552.21 crores, which is to be honoured on July 15, was also given to SEBI.

Sibal and and Rohatgi had sought time till August 15 for realisation of the cheque and giving a road map for depositing the remaining amount. However, this was rejected by the bench which also comprised Justices Ranjan Gogoi and A K Sikri.

The court then fixed the matter for hearing July 20 while continuing with the relief granted to Sahara chief Subrata Roy, who is presently out on bail, was directed to remain present in the courtroom.

The court was earlier irked over non-submission of money and had decided to sell off Rs 34,000 crore worth of properties of the Sahara Group at the Aamby Valley.

ALSO READ:

Sahara short of Rs 9,000 crore of Rs 24,000 crore principal amount
Will auction Aamby Valley if money not deposited: SC to Sahara

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Sahara GroupSubrata RoyAamby ValleyAambey Valley auctionSupreme CourtSC on SaharaSubrata Roy paroleSebiSahara-Sebi fundSahara depositsSahara Properties
RELATED NEWS
Sahara-Sebi case: Two Sahara group firms move SC, file contempt plea against market regulator Sahara-Sebi case: Two Sahara group firms move SC, file contempt plea against market regulator
Sebi wants Sahara Group chief Subrata Roy to pay $8.43 bn, says cancel parole if tycoon fails to pay; petition filed with SC Sebi wants Sahara Group chief Subrata Roy to pay $8.43 bn, says cancel parole if tycoon fails to pay; petition filed with SC
Sahara Group demands ban on Netfix series 'Bad Boy Billionaires' Sahara Group demands ban on Netfix series 'Bad Boy Billionaires'
Airport Authority threatens to seize Sahara's Mumbai hotel Airport Authority threatens to seize Sahara's Mumbai hotel
Big setback for Subrata Roy led Sahara over Rs 14,000 cr case; what Sebi ordered Big setback for Subrata Roy led Sahara over Rs 14,000 cr case; what Sebi ordered

LATEST NEWS

ICMR Covid 19 vaccine data: How many people contracted virus despite Covaxin, Covishield first and 2nd dose?

Sensex rallies 375 pts; Nifty tops 14,400

Covid 19 symptoms: What is the right oxygen saturation level, when should you see a doctor—EXPLAINED

WhatsApp, Facebook suffer big setback in India! Know how they have been affected

JPMorgan on Aurobindo Pharma stock re-rating trigger and target price

Will Gold price touch Rs 50000 level? All the details you need to know now

7th Pay Commission Latest News Today: BUMPER! Earn up to Rs 1.19 lakh as per 7th cpc matrix with HRA, DA, TA in this UPSC recruitment 2021 drive

Market Outlook With Anil Singhvi: Valentis Advisors' Jyotivardhan Jaipuria speaks on Covid-19 fears, sectors he prefers and more

WhatsApp Pink - a new virus now threatens users accounts; find out what it is and how to stay safe

Rajasthan School News Today: After West Bengal and Haryana, Rajasthan announces advance summer vacations for the schools from TODAY - check all details here

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved