Supreme Court Seeks Response on Sahara’s Asset Sale to Adani Group
The Supreme Court has directed the Central government, SEBI, and other stakeholders to respond to Sahara India Commercial Corporation Ltd’s (SICCL) plea seeking approval to sell 88 of its prime properties to Adani Properties Private Ltd.
Key Details of the Plea
SICCL has approached the Supreme Court for permission to sell these properties, which notably include the prominent Amby Valley project located in Maharashtra.
Court Proceedings and Next Steps
A Special Bench led by Chief Justice of India BR Gavai, while hearing the plea connected to the long-standing Sahara Group refund case, also ordered that the Ministries of Finance and Cooperation be added as parties to the proceedings. The court has set the next hearing for November 17 and has asked for their responses by that date.
