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No Takers For Sahara’s Aamby Valley Properties

Courtesy/By: Snigdha Kashyap | 14 Jul 2018

The auctioning of Sahara’s Aamby Valley properties to be put off as it saw no takers. The official liquidator appointed by Bombay High Court, informed the Supreme Court on Thursday.

The Bombay High Court bench which had appointed the court receiver, had asked the official liquidator to proceed with the auction in order to repay its investors. Sahara group submitted that two firms Sai Rydam Realtors Private limited and Prime Down Town Real Estate Private limited were willing to purchase their property at Vasai in Mumbai.

The bench directed both Sai Rydam Realtors Private limited and Prime Down Town Real Estate Private limited to deposit Rs 1000crore with Sahara SEBI
The bench has asked both the firm to deposit Rs 200crore by August 15 and Rs 682.8 crore by September 12, failure to which will lead to the forfeiture of the deposit amount and contempt of the court.

Courtesy/By: Snigdha Kashyap | 14 Jul 2018