Sahara co seeks SC nod to sell Aamby Valley, Sahara Shahar to Adani co
This story was originally published at 19:08 IST on 29 September 2025
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NEW DELHI – Sahara India Commercial Corp. Ltd. has moved the Supreme Court to seek its approval to sell various properties, including Aamby Valley in Maharashtra and Sahara Shahar in Lucknow, to Adani Properties Pvt. Ltd. The court is likely to hear Sahara India's plea Oct. 14.
The court was hearing a 2013 contempt case by the Securities and Exchange Board of India against the Sahara Group for not complying with the apex court's 2012 order. A refund account, operated by SEBI and the Sahara Group, was set up after the court in 2012 directed Sahara India Real Estate Corp. Ltd. and Sahara Housing India Corp. Ltd. to refund almost INR 240.00 billion to those who had invested in their optionally fully convertible debentures between 2008 and 2011.
In February, the court had sought responses from the Union environment ministry and the Maharashtra government on whether Sahara India Commercial Corp.'s 106-acre plot in Versova, Mumbai, lies in a mangrove area. The court had directed a meeting of officers of Sahara India, SEBI, and property consultants to explore terms and conditions on which the plot could be monetised for maximum value. The court's direction was to enable payment of the remaining dues of the Sahara Group.
On Sept. 12, the court had allowed the Centre to withdraw another INR 50.00 billion from the money deposited by the Sahara Group with SEBI to repay dues of the Sahara Group of Cooperative Societies. In 2023, the apex court had approved a similar request by the government for INR 50.00 billion. End
Reported by Surya Tripathi
Edited by Rajeev Pai
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