Bombay High Court to Auction property of Ambi Valley City in Sahara Group!

Three days after the Supreme Court's order, the Mumbai High Court today lodged the Sahara Group's prestigious Ambbi Valley City in Lonavala publicly. The official wrestlers of Ambi Valley City have assets worth Rs 37,392 crore. Sahara Group has set the market value of the project to over Rs 1 lakh crore.

The Supreme Court on Thursday dismissed a plea by the Sahara Group to give time to the investor till July, 2019. The Supreme Court prosecutor said today that the auction can not be believed in the proposal of Rs 1,500 crore to Sahara Group SEBI if the auction process is stopped or postponed.

The auction process will be held and the Rs 1500-crore sebi sahara refund account will be set up by September 7 and Subrata Roy will be issued a suitable order. So Subrata Roy rejected the appeal.Sahara's senior lawyer, Kapil Sibal, has appealed to the court to probe the auction of the Abe Valley auction till September 16, when Subrata Roy has set up the money.

The Sahara account will be paid after selling hotels in New York and then deposits Rs 1,500 crore to SEBI's Sahara Refunds Account on September 7 by a court order.