Sahara Group Can Sell Any Parcel Of Land In Aamby Valley By May 15: Supreme Court
The Supreme Court on Thursday allowed Sahara Group to sell properties in any parcel of its choice at the Aamby Valley City Project in Maharashtra by May 15, reported PTI. The sale of property has to be completed on or before May 15 and proceeds must be deposited in SEBI-Sahara refund account, ordered the apex court. A special bench headed by Chief Justice Dipak Misra said that if the Sahara Group fails to sell its property by May 15, the Bombay High Court's official liquidator will proceed with the proposed auctioning process to sell the property.The Supreme Court in February had allowed the Sahara's project Aamby Valley to be split it into small parcels of land as there were no takers for the purchase of entire township. The order was issued after the liquidator, the Bombay High Court, made a submission before the top court that the entire landmass of Aamby Valley failed to draw any takers despite ample publicity of the intent to sell it via two advertisements published in 142 dailies.Also Read: Get Sahara's Aamby Valley Auctioned, Supreme Court Tells Bombay High Court ReceiverSpread over 8,900 acres, Aamby Valley is Sahara's flagship project comprising luxury resorts and an airport and valued at around Rs 38,000 crore.Also Read: Sahara's Aamby Valley To Be Auctioned In Parts, Says Supreme CourtMarkets regulator Securities and Exchange Board of India (SEBI) said that the Sahara Group owes Rs. 11,569 crore to investors, a claim which the group disputes. The Sahara Group told the top court that only Rs. 4, 657 crore is the outstanding amount.Â
Â
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
