Sahara’s plea to sell Aamby Valley, other properties to Adani tentatively set for October 14 Supreme Court hearing

The Supreme Court is tentatively scheduled to hear an appeal filed by Sahara India Commercial Corporation Ltd (SICCL) on October 14 seeking permission to sell various properties, including Aamby Valley in Maharashtra and Shahara Saher in Lucknow, to Adani Properties Pvt Ltd.

When the plea was mentioned earlier in the day, Chief Justice BR Gavai said a separate bench of three judges should be constituted to hear the plea.

“The application has been filed by Sahara India Commercial Corporation Limited, which has sought permission from the Supreme Court for direct sale of various properties belonging to Sahara Group to Adani Properties Private Limited on the terms and conditions specified in the term sheet dated September 6, 2025,” the application filed through advocate Gautam Awasthi on behalf of SICCL said. The statement was included.

The application was made in an ongoing case linked to the Sahara group. SICCL said this and Sahara Group experienced great difficulty in converting some of its movable and immovable assets into cash. Proceeds were deposited in SEBI – Sahara Refund Account.

“Sahara Group has realized an amount of approximately Rs 16,000 crore out of the total principal amount of Rs 24,030 crore through sale/liquidation of its movable and immovable assets and deposited the same in SEBI – Sahara Repayment Account,” the filing said.

SICCL argued that “it would not be out of place to point out that although the Securities and Exchange Board of India (SEBI) had tried to sell/liquidate the assets of the Sahara Group on more than one occasion (including reputed real estate brokerage firms and consultants), it was ultimately unable to liquidate any assets of the Sahara Group, as can be seen from the previous orders passed by the Supreme Court. SEBI – Sahara Reimbursement Account, only SICCL and Sahara “He was credited with the efforts of his group and with great difficulty.”

SICCL said the decision to sell was taken to meet the demands of stakeholders, including investors. It was stated that great efforts were being made to liquidate movable and immovable assets with a view to depositing the proceeds in the SEBI-Sahara Refund Account.

“The Sahara Group has decided to liquidate the assets of the Sahara Group at maximum value and quickly, in order to fulfill the orders given by the Supreme Court, fulfill the obligations of the Sahara Group and put an end to the current contempt case,” the application said. It was said.