Sahara's Aamby Valley to be auctioned, again, from December 1
Aamby Valley
An earlier auction had failed to attract any bidders
The Supreme Court todaydirected a fresh auction of Sahara Group's Aamby Valley property near Lonavala in Pune district from December 1.
An earlier auction had failed to attract any bidders.
The top court directed the official receiver of the Bombay High Court to facilitate the auctioning.
A bench comprising Chief Justice Dipak Misra and Justices Ranjan Gogoi and AK Sikri also asked the official liquidator of the Bombay High Court to take the help of the Receiver and ensure that the Aamby Valley properties are auctioned.
"We want the property to be auctioned. Till then, we will appoint the receiver of the Bombay High Court to help in auctioning, till it is complete," the bench said." the top court said while asking the Bombay High Court's official liquidator to ensure auctioning.
The top court directed the official liquidator to take instructions from the company judge or the Bombay High Court.
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The official Liquidator had told the Supreme Court that unprecedented obstructions were being created by the Sahara group.
The official receiver of the Bombay High Court will take care of Amby Valley in Pune till the auction is completed.
The auction process is likely to take eight weeks starting from December 1.
On October 12, the Supreme Court hadtaken strong exception to the alleged obstruction by the Sahara Group in the auctioning process and warned that anybody creating any impediment would be liable for contempt and "sent to jail".
The SEBIhad told the top courtthat the group had allegedly obstructed the aunctioning process by writing a letter to the Pune police raising the issue of law and order at the prime property.
Taking note of SEBI's allegation, the court had said that the group could not have entered into a communication with Pune's Superintendent of the Police (Rural) on the issue since the auction has been ordered by the top court.
The SEBI had alleged that the police has taken custody of the property due to which no bidder was willing to take part in the auction process.
On August 10, the topcourt had rejected Sahara chief Subrata Roy's plea to put on hold the auction process.
It had said the auction process would proceed as per schedule and if Rs 1,500 crore is paid by Roy in the SEBI- Sahara refund account by September 7, then it may pass an appropriate order.
(With inputs from PTI, ANI)