SC attaches Sahara’s Aamby Valley to expedite recovery of money

The Supreme Court on Monday attached Sahara’s Aamby Valley—valued at approximately Rs 39,000 crore – in inorder to expedite the recovery of Rs 14,779 crore the company owes its duped investors.

At the insistence of market regulator Securities and Exchange Board of India (SEBI), the SC also ordered Sahara to submit a list of properties “free from any encumbrance” that would be put up for auction to help recover the money.

So far, Sahara has managed to repay a little over Rs 11,000 crore. Pursuant to an earlier order, Sahara deposited approximately Rs 600 crore with SEBI on Monday. Kapil Sibal, representing Sahara, sought time till July 2019 to deposit the balance of Rs 14,779 crore with SEBI.