Supreme Court orders Aamby Valley auction, summons Subrata Roy

Directs liquidator of Bombay High Court to prepare valuation in 10 days

The Supreme Court on Monday set in motion the process to sell Maharashtra-based luxury township of Aamby Valley to recover the dues owed by the Sahara Group to the Securities and Exchange Board of India (Sebi). 

The court, on the advice of amicus curiae Shekhar Naphade, appointed the official liquidator of the Bombay High Court as the agency responsible to value the 10,000-acre property and auction it. 

After Sebi counsel Arvind Datar raised doubts about various encumbrances, including the 999-year leases and some parts being sold during the pendency of the case, the Bench of Justices Dipak Misra, A K