Sahara SEBI Case: Aamby valley auction fails to get bids; two buyers offer to buy properties

Subrata Roy-led group managed to bail out of its elite ownership by informing the SC that two firms are willing to pay Rs 1,000 crore for its properties at Vasai in Mumbai.

NEW DELHI: The auction of Sahara's prime Aamby Valley properties once again failed to receive any bids from buyers, the Securities and Exchange Board of India (SEBI) told the Supreme Court on Thursday. 

“There has been no response to auction notice for Sahara's prime Aamby Valley properties,” the official liquidator told the top court.

Meanwhile, the Subrata Roy-led group managed to bail out of its elite ownership by informing the top court that two firms are willing to pay Rs 1,000 crore for its properties at Vasai in Mumbai. 

Accepting a demand draft of Rs 99 crore from the two buyers, the top court ordered them to deposit Rs 200 crore in the SEBI-Sahara account by August 15 and the remaining Rs 682 crore by September 12. 

The embattled Sahara group has been locked in a prolonged legal battle with capital markets regulator SEBI for allegedly breaching norms in raising nearly Rs 25,000 crore through certain bonds. The Subrata Roy-led group was later asked by the Supreme Court to deposit the funds with Sebi for refund to investors, even as it maintains to have already refunded majority of the bondholders.

The next hearing in the matter has been scheduled for September 12.

With inputs from agencies