Sahara - Sebi case: SC orders Aamby Valley auction, personal presence of Subrata Roy
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While heading the Sahara and Securities Exchange Board of India's (Sebi) case on Monday, the Supreme Court ordered the conglomerate's chief to make an appearance before it. It also ordered the sale of Sahara's Aamby Valley in Lonavala.
The case pertains to returning the money of investors which was unlawfully raised by the Sahara Group. In a hearing on March 21, the SC had warned Sahara that it would auction its Lonavala Aamby Valley project if the latter fails to deposit the amount of Rs 5,000.
Roy, who spent two years in Tihar jail for the same case, has been out on bail since May 5, 2016 after he was allowed to step out to conduct the last rites of this ailing mother.
According to a PTI copy, Sahara says it has paid more than 80% of the dues to shareholders.
The apex court had refused to hear a fresh plea of the Sahara Group for more time to pay Rs 5,000 crore in dues.
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