Aamby Valley to go under the hammer as SC rejects Sahara plea for more time

Sahara wanted more time to deposit remaining Rs 966.80 cr out of Rs 1,500 cr by Nov 11 in Sebi-Sahara account

The Supreme Court on Monday directed the Sahara group’s Rs 37,000-crore luxury township Aamby Valley be auctioned as scheduled. 

Calling the group “an abuser of process of law”, it turned down requests to give a two-month-long extension for paying an instalment, which was due last week. Of the Rs 1,500 crore due for payment on September 7, the group had paid only around Rs 530 crore and offered post-dated cheques payable by up to November 11, for the remaining Rs 970 crore.  

“We direct without any hesitation that the auction shall be held as per the direction given by