Sahara seeks stay on Aamby Valley auction

Sahara seeks stay on Aamby Valley auction
10/08/2017 , by , in News/Views

Sahara group, headed by Subrata Roy Sahara, on Wednesday, made a plea before the Supreme Court to not to go ahead with the auction of its Aamby Valley property. The group assured the court that it was in the process of repayment of funds to its investors.

Earlier on April 27, the apex court had stayed the auction of Aamby Valley till June 19 and had warned Subrata Roy that he will be jailed on failure to submit Rs. 2,050 crore.

Roy was arrested in 2014 for failing to appear before the Supreme Court in connection with the Rs 24,000 crore deposits which his company had not refunded to investors. He is currently out on parole.

Roy had submitted two post-dated cheques worth Rs 1,500 crore and Rs 550 crore in the court. “Be ready to go to Tihar if you fail to honour the cheques,” the court warned Roy.

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