{"id":46881,"date":"2017-02-07T08:22:19","date_gmt":"2017-02-07T02:52:19","guid":{"rendered":"https:\/\/www.legalindia.com\/news\/?p=46881"},"modified":"2017-02-07T08:22:19","modified_gmt":"2017-02-07T02:52:19","slug":"sc-orders-attachment-saharas-prime-aamby-valley-property","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/news\/sc-orders-attachment-saharas-prime-aamby-valley-property","title":{"rendered":"SC orders attachment of Sahara&#8217;s prime Aamby Valley property"},"content":{"rendered":"<figure id=\"attachment_38035\" aria-describedby=\"caption-attachment-38035\" style=\"width: 300px\" class=\"wp-caption alignright\"><a href=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2015\/06\/Subrata.jpg?ssl=1\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" data-attachment-id=\"38035\" data-permalink=\"https:\/\/www.legalindia.com\/news\/sc-gives-sahara-18-months-to-pay-up-rs-36000-crore\/subrata\" data-orig-file=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2015\/06\/Subrata.jpg?fit=380%2C285&amp;ssl=1\" data-orig-size=\"380,285\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;Press Trust of India&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Subrata\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2015\/06\/Subrata.jpg?fit=380%2C285&amp;ssl=1\" class=\"wp-image-38035 size-medium\" src=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2015\/06\/Subrata.jpg?resize=300%2C225&#038;ssl=1\" alt=\"SC orders attachment of Sahara's prime Aamby Valley property\" width=\"300\" height=\"225\" srcset=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2015\/06\/Subrata.jpg?resize=300%2C225&amp;ssl=1 300w, https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2015\/06\/Subrata.jpg?w=380&amp;ssl=1 380w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><figcaption id=\"caption-attachment-38035\" class=\"wp-caption-text\">SC orders attachment of Sahara&#8217;s prime Aamby Valley property<\/figcaption><\/figure>\n<p>In a big blow to beleaguered businessman Subrata Roy, The Supreme Court today directed attachment of Sahara Group&#8217;s prime property worth Rs 39,000 crore at Aamby Valley in Pune for realisation of money to be paid to its investors.<\/p>\n<p>The apex court also asked Sahara Group to provide it within two weeks the list of &#8220;unencumbered properties&#8221; 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.<\/p>\n<p>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.<\/p>\n<p>The bench, also comprising Justices Ranjan Gogoi and A K Sikri, was told by SEBI counsel Pratap Venugopal that the interest on the principal amount till October 31, 2016 would lead to a liability of Rs 47,669 crore on the Sahara Group, which today deposited over Rs 600 crore in accordance with the January 12 order by which extension of time beyond February 6 was refused.<\/p>\n<p>The apex court had said failure to pay the said amount would lead Sahara Group Chief Subrata Roy going back to jail.<\/p>\n<p>The top court was not in agreement with Sahara&#8217;s counsel senior advocate Kapil Sibal that the amount should be realised in accordance with the roadmap provided by the group, which suggested the deadline of July 2019 will be adhered to.<\/p>\n<p>&#8220;No small token amounts,&#8221; the bench observed, adding that the balance amount of over Rs 14,000 crore can be realised by public auction of Sahara&#8217;s unencumbered properties which are free from litigations, mortgage and any charge.<\/p>\n<p>&#8220;The fundamental question is that the court (Supreme Court) found that the money collected by you from XYZ etc was in violation of the rule,&#8221; the bench observed while not accepting Sibal&#8217;s plea that he should be given at least a minimum of two hours to explain that the apex court judgement against Sahara was &#8220;ex-facie erroneous&#8221;.<\/p>\n<p>&#8220;It&#8217;s a question of a core verdict,&#8221; the bench said, while referring to the August 2012 judgement by which the Sahara Group was asked to make refund to the investors.<\/p>\n<p>( Source &#8211; PTI )<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a big blow to beleaguered businessman Subrata Roy, The Supreme Court today directed attachment of Sahara Group&#8217;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 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":38035,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1954],"tags":[146,31987,117,80,38659,16821,2170,47726],"class_list":["post-46881","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-high-profile-cases","tag-court","tag-featured","tag-law","tag-legal-news","tag-prime-aamby-valley","tag-sahara","tag-subrata-roy","tag-supreme-court"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SC orders attachment of Sahara&#039;s prime Aamby Valley property - Legal News India - Supreme Court &amp; High Court Updates<\/title>\n<meta name=\"description\" content=\"In a big blow to beleaguered businessman Subrata Roy, The Supreme Court today directed attachment of Sahara Group&#039;s prime property worth Rs 39,000 crore - Get the latest legal news from the Supreme Court, High Courts, and government. 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A bench of justices Dipak Misra, Ranjan Gogoi and A K Sikri said, \"The prayer of the contemnor (Roy) is\u2026","rel":"","context":"In &quot;High Profile Cases&quot;","block_context":{"text":"High Profile Cases","link":"https:\/\/www.legalindia.com\/news\/category\/high-profile-cases"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2017\/07\/subrata-roy_10.jpg?fit=600%2C414&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2017\/07\/subrata-roy_10.jpg?fit=600%2C414&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2017\/07\/subrata-roy_10.jpg?fit=600%2C414&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":52808,"url":"https:\/\/www.legalindia.com\/news\/supreme-court-auction-process-of-saharas-aamby-valley-property-to-continue","url_meta":{"origin":46881,"position":1},"title":"Supreme Court: Auction process of Sahara&#8217;s Aamby Valley property to continue","author":"Legal India Admin","date":"May 16, 2018","format":false,"excerpt":"The auction process for the Sahara group's prime Aamby Valley properties would continue as it has failed to deposit Rs 750 crore in the SEBI-Sahara refund account, the Supreme Court held today. A bench of Chief Justice Dipak Misra and Justices Ranjan Gogoi and A K Sikri was informed by\u2026","rel":"","context":"In &quot;Top Law News&quot;","block_context":{"text":"Top Law News","link":"https:\/\/www.legalindia.com\/news\/category\/top-law-news"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2018\/05\/sc-1.jpg?fit=1200%2C630&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2018\/05\/sc-1.jpg?fit=1200%2C630&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2018\/05\/sc-1.jpg?fit=1200%2C630&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2018\/05\/sc-1.jpg?fit=1200%2C630&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2018\/05\/sc-1.jpg?fit=1200%2C630&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":47839,"url":"https:\/\/www.legalindia.com\/news\/sc-asks-sahara-chief-appear-april-28","url_meta":{"origin":46881,"position":2},"title":"SC asks Sahara chief to appear before it on April 28","author":"Legal India Admin","date":"April 17, 2017","format":false,"excerpt":"The Supreme Court today asked Bombay High Court's official liquidator to sell the Rs 34,000 crore worth of properties of the Aamby Valley owned by the Sahara Group and directed its chief Subrata Roy to personally appear before it on April 28. \"Enough is enough. You cannot say something today\u2026","rel":"","context":"In &quot;High Profile Cases&quot;","block_context":{"text":"High Profile Cases","link":"https:\/\/www.legalindia.com\/news\/category\/high-profile-cases"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2015\/06\/Subrata.jpg?fit=380%2C285&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":50641,"url":"https:\/\/www.legalindia.com\/news\/bombay-hc-judges-facilitate-auction-aamby-valley-sc","url_meta":{"origin":46881,"position":3},"title":"Bombay HC judges to facilitate auction of Aamby Valley: SC","author":"Legal India Admin","date":"November 24, 2017","format":false,"excerpt":"The Supreme Court today granted liberty to two Bombay High Court judges to adopt procedures to facilitate the auctioning of Sahara's prized Aamby Valley properties and directed the Official Liquidator not to allow any obstruction in the process. 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Roy, who in compliance with the last order appeared\u2026","rel":"","context":"In &quot;Top Law News&quot;","block_context":{"text":"Top Law News","link":"https:\/\/www.legalindia.com\/news\/category\/top-law-news"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2015\/06\/Subrata.jpg?fit=380%2C285&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"jetpack_shortlink":"https:\/\/wp.me\/p6H5Bf-cc9","jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/posts\/46881","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/comments?post=46881"}],"version-history":[{"count":0,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/posts\/46881\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/media\/38035"}],"wp:attachment":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/media?parent=46881"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/categories?post=46881"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/tags?post=46881"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}