Cheap VPS & Xen Server

Residential Proxy Network - Hourly & Monthly Packages

Sebi moves SC against Sahara for ‘obstruction’ of Aamby Valley auction


Sebi moves SC against Sahara for ‘obstruction’ of Aamby Valley auction
Markets regulator Sebi has moved a contempt petition in the Supreme Court against Sahara for alleged obstruction in the auction of Amby Valley project. (Photo: PTI)

New Delhi: Markets regulator Sebi has moved a contempt petition in the Supreme Court against Sahara for alleged obstruction in the auction of Amby Valley project.

This move comes despite the apex court’s direction in September to go ahead with the scheduled auction of Aamby Valley property in Maharashtra, as it rejected Sahara Group Chief Subrata Roy’s plea for some more time.

In its petition on Tuesday, Sebi told the Supreme Court that Sahara had not paid money to all the investors while the latter claimed they had almost paid more than 75 per cent of the due.

In August, the Supreme Court had asked the embattled Sahara Group to deposit Rs 1,500 crore in a dedicated Sebi account by September 7. It had had also said that the Aamby Valley auction process would be stopped if the company furnished the payment in time.

The Aamby Valley auction process kicked off on August 14, with the official liquidator inviting bids at a reserve price of Rs 37,392 crore.

Source

Comments

comments