Sebi files contempt plea against Sahara for alleged hampering Aamby Valley auction

Sebi files contempt plea against Sahara for alleged hampering Aamby Valley auction
Oct 2017 , by , in Latest News

Capital markets regulator Securities and Exchange Board of India (Sebi) has filed a contempt plea against the Sahara Group in the Supreme Court on Tuesday alleging obstruction in the auction process of the Pune-based property, Aamby Valley.

The matter was brought before a bench headed by justice Ranjan Gogoi, who said the case would be forwarded to chief justice Dipak Misra, who would take a call on when the matter would be heard.

The Aamby Valley auction process began on 14 August with the official liquidator inviting bids at a reserve price of Rs 37,392 crore. The properties on auction include an integrated hill city township spread over 6,761.64 acres in the great Sahyadri mountain range, 1,409.865 acres of land surrounding Aamby Valley City Development and land measuring 321.65 acres within the Satara district.

 

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