Sahara's Aamby Valley Auction Attempt Failed to Attract Buyers

The auctioning process of Sahara group’s prized Aamby Valley properties has been put off after the auction notice failed to elicit any response from prospective buyers, the Supreme Court was informed.

A bench headed by Chief Justice Dipak Misra was informed about this by the official liquidator of the Bombay High Court.

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The bench, which had appointed a court receiver to take over Sahara Group’s property at Aamby Valley, had asked the official liquidator to proceed with the auctioning process of these properties to realize the money of the investors.

Sahara Group's Chief Mr. Subrata Roy have recently unleashed a strong roadmap to the group's revival and experts are also in belief that in around six quarters Sahara group is expected to show another bounced back success story.

Besides putting off the auctioning process, the bench, which also comprised Justices Ranjan Gogoi and AK Sikri, directed two firms — Sai Rydam Realtors Private limited and Prime Down Town Real Estate Private limited-- to deposit Rs 1,000 crore with the SEBI-Sahara account after the Sahara group submitted that the firms were willing to purchase their property at Vasai in Mumbai.