New Delhi: The Supreme Court today asked the official liquidator of the Bombay High Court to auction the Aamby Valley property of the Sahara group to recover the money it has to pay to market regulator SEBI to be returned to investors.
Directing Subrata Roy Sahara to be personally present in the court on April 27, Justice Dipak Misra, Justice Ranjan Gogoi and Justice A.K. Sikri demanded to know why the money had not been paid so far.
“Enough is enough. You cannot say something today and resile tomorrow,” a bench, comprising Justices Dipak Misra, Ranjan Gogoi and A K Sikri, said, taking strong note of non- submission of over Rs 5,000 crore by the Sahara group.
The bench also cautioned Roy from playing with the court’s order and said non-compliance of its order would invite the wrath of the law and ultimately he will be at his own peril.
The bench asked the official liquidator, attached with the Bombay High Court, to auction the Aamby Valley properties, estimated to be worth Rs 34,000 crore, and directly report to it.
The bench also directed Roy and his group as well as SEBI to provide all necessary details relating to the properties to the official liquidator within 48 hours.
The top court had in 2012 asked Sahara to return the investors’ money that Sahara India Real Estate Corp Ltd and Sahara Housing Investment Corp Ltd had raised in 2008 and 2009.
Asking Roy to be present in the court on April 27, the bench said: “Now we are tired. We have heard a lot.”
