Athrav – Online News Portal
Uncategorized राष्ट्रीय

Sahara’s Aamby Valley will be seized to pay Rs 14,000 crore to investors: Supreme Court

The Supreme Court ordered on Monday that the prime real-estate project of the Sahara group, Aamby Valley, will be attached to ensure the recovery of Rs 14,000 crore the company owes to duped investors.The order came from a bench headed by justice Dipak Misra that noted Sahara’s proposed payment plan extending till July 2019 was too long and said the court would auction the properties to recover the amount. Aamby Valley’s declared worth is Rs 39,000 crore.The bench asked Sahara to submit a list of its unencumbered properties by February 20 so that it can decide to auction them. The company has to be forced to expedite the payment, the bench said.

Sahara has so far paid a little over Rs 11,000 crore. In a proposal before the top court, it wanted time till July 2029 to deposit a balance of Rs 14,779 crore with the Securities and Exchange Board of India (SEBI).Following the last order, the company deposited a little over RS 609 crore with the market regulator. The company’s boss Subrata Roy will, however, continue to be on parole.In October 2013, the SC had ordered the company to refund the money it had collected from investors under its two financial schemes, declared illegal by SEBI. The top court had dismissed the company’s appeal against the regulator’s order.

In March 2014, Roy was sent to jail after he failed to appear in response to a summon. He was given parole last year in May after his mother passed away. Since then the company has been depositing money with SEBI to ensure he remained out of jail.

Related posts

इंदौर : अंतरराष्ट्रीय योग दिवस 21 जून को कैलाश मान सरोवर में यात्री यात्रा में ही योग करके योग दिवस मनाएगे, आध्यात्मिक हीलर कृष्णा गुरुजी

Ajit Sinha

सीएम अरविंद केजरीवाल ने दिल्ली विधानसभा में पहली बार आयोजित यूथ संसद को संबोधित किया

Ajit Sinha

सीएम अरविंद केजरीवाल ने कोरोना योद्धा स्वर्गीय डाॅ. हितेश गुप्ता के परिवार को एक करोड़ रुपए की सहायता राशि का चेक सौंपा

Ajit Sinha
0 0 votes
Article Rating
Notify of
Inline Feedbacks
View all comments
error: Content is protected !!
Would love your thoughts, please comment.x