Tough to maintain Sahara Group’s Aamby Valley: Official receiver tells Supreme Court
New Delhi: The official receiver of the Bombay Excessive Court docket on Friday moved the Supreme Court docket searching for its instructions, contending it was discovering it tough to take care of Sahara Group’s Aamby Valley properties, that are to be auctioned.
The apex court docket, on November 23 final 12 months, had taken be aware of the apprehension that there may very well be a chance of encroachment and had directed the official receiver of the excessive court docket to behave because the custodian of Aamby Valley properties until the conclusion of of public sale.
The plea was talked about by senior lawyer Shekhar Naphade, who’s aiding the apex court docket as an amicus curiae, earlier than a bench comprising Chief Justice Dipak Misra and justices A M Khanwilkar and D Y Chandrachud, which stated it would look into the matter and repair a date of listening to.
Naphade stated that the receiver has sought some instructions with regard to Aamby Valley properties because it was discovering it tough to take care of them.
Earlier, the apex court docket had granted liberty to 2 Bombay Excessive Court docket judges to undertake procedures to facilitate the auctioning of Sahara’s prized Aamby Valley properties and directed the official liquidator to not enable any obstruction within the course of.
A particular prime court docket bench, comprising the chief justice and justices Ranjan Gogoi and A Okay Sikri, had earlier warned Sahara Group chief Subrata Roy, dealing with contempt proceedings, that it might ship him to jail once more, following a submission by the Securities and Alternate Board of India (SEBI) that there was confusion with regard to the title or possession of a number of the properties in Aamby Valley.
The Sahara Group had earlier sought 18 months to repay round Rs 9,000 crore stability of the principal quantity of Rs 24,000 crore.
The court docket had directed sum of Rs 84 lakh be launched in favour of the Bombay Excessive Court docket’s official liquidator (OL), who has been entrusted with the duty of conducting the auctioning course of, for “publication or commercial”.
The bench had additionally warned the OL that there shouldn’t be any hindrance to the auctioning course of and posted the matter for listening to within the first week of February in 2018.
Earlier, the apex court docket had taken sturdy exception to the Sahara Group allegedly obstructing the auctioning technique of Aamby Valley and warned that anybody indulging in such an act could be held chargeable for contempt and “despatched to jail”.
The apex court docket was irked when the SEBI claimed that the group had allegedly obstructed the method by writing a letter to the Pune police elevating the difficulty of legislation and order on the prime property.
On August 10 final 12 months, the apex court docket had rejected Sahara chief Subrata Roy’s plea to placed on maintain the public sale course of.
Roy, who has spent nearly two years in jail, has been on parole since Might 6 final 12 months. The parole was granted the primary time to allow him attend the funeral of his mom. It has been prolonged since then.
In addition to Roy, two different administrators — Ravi Shankar Dubey and Ashok Roy Choudhary — had been arrested for failure of the group’s two corporations — Sahara India Actual Property Company (SIRECL) and Sahara Housing Funding Corp Ltd (SHICL) — to adjust to the court docket’s August 31, 2012 order to return Rs 24,000 crore to their traders.