SC appoints official receiver to manage Aamby Valley

Second attempt at auction to take eight weeks

The Supreme Court on Thursday ordered the official receiver at the Bombay High Court to take over the management of affairs of luxury township Aamby Valley (near Pune), amid fear of encroachment and the possibility of not finding any bidder for it.

The official receiver is different from the official liquidator, earlier appointed by the court to conduct the auction of the township. The move will end control and possession of the Sahara group over the Rs 37,000-crore property, spread across 43 sq km off Lonavla, on the Mumbai-Pune Highway. 

In an order, the bench of Chief Justice Dipak Misra