Supreme Court: Allowing SEBI to attach the properties belonging to Sahara Group, the Court directed Sahara to file a list of properties that can be put to public auction by 27.02.2017.
The 3-judge bench of Dipak Misra, Ranjan Gogoi and A.K. Sikri, JJ said that the properties suggested for public auction shall be free from any encumbrance which means that the properties should not be encumbered in any manner whatsoever.
Pratap Venugopal, appearing for SEBI had submitted that the property of the contemnors, situated at Aamby Valley City, Pune, Maharashtra, would be sufficient for realization of the whole amount. He insisted that the property should be attached so that the contemnors shall make all endeavour to deposit the amount with SEBI. Accepting the aforementioned submission, the Court directed for attachment of the Aamby Valley property. The matter is listed to be heard on 27.02.2017. [Sahara India Real Estate Corpn.Ltd v. SEBI, CONMT.PET.(C) Nos.412 & 413/2012, order dated 06.02.2017]