Aamby Valley, foreign properties not on auction block: Sahara

Mumbai, March 29 (IANS) The Sahara Group on Tuesday said that its Aamby Valley City project in Pune district, Mumbai’s Hotel Sahara Star, its foreign and other properties were not in the list of 86 properties pertaining to the Sahara-SEBI case in the Supreme Court.

In a statement issued here, the company said the Supreme Court had directed Securities and Exchange Board of India (SEBI) to take inputs and consult with the Sahara Group while selling its properties.

The company said on Tuesday it had completed the payment of Rs.5,000 crore in cash component whereas only Rs.5,000 crore bank guarantee component remained to be complied with.

The Supreme Court on Tuesday paved the way for markets regulator SEBI to sell 86 properties of Subrata Roy-led Sahara group, worth an estimated Rs.40,000 crore, giving hope to tens of thousands of investors who put their money in its various schemes.

The directions from a bench of Chief Justice T.S. Thakur, Justice Anil R. Dave and Justice A.K. Sikri came after it found that the Sahara group was yet to mobilise Rs.10,000 crore for bail to secure the release of its head Subrata Roy, lodged in the Tihar jail since March 2014.

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