Aamby Valley Stays with Sahara Group

16 Nov 2023 CW Team

With its picturesque landscape and luxurious amenities, Aamby Valley has been a sought-after destination for the elite. Situated amidst picturesque Sahyadri mountains, the township offers a wide range of premium residential properties, international-standard golf course, and a host of recreational facilities.

The dispute over the ownership of Aamby Valley stemmed from a legal tussle between Sahara Group and The Securities and Exchange Board of India (SEBI), the financial regulator. The SEBI claimed that the Sahara group failed to repay billions of dollars to investors who had bought certain bonds issued by Sahara.

In 2012, the Supreme Court had ordered the Sahara group to repay the investors, and as part of the process, it had ordered the attachment of Aamby Valley. The court-appointed a liquidator to sell the property to recover the money owed to the investors.

However, Sahara Group managed to raise funds and paid off a substantial portion of the required amount, resulting in the Supreme Court granting more time to settle the remaining dues. As a result, the court allowed Sahara Group to retain control over Aamby Valley.

The decision comes as a relief for the Sahara Group, which has been actively trying to resolve the ownership dispute and retain control over the prestigious township. Sahara Group has stated its commitment to making the necessary payments and resolving the outstanding issues related to the bonds issued by the group.

The retention of control by the Sahara Group is expected to allow for the further development and enhancement of Aamby Valley. The group has plans for transforming the township into a world-class integrated city with modern infrastructure, amenities, and services.

The legal battle surrounding the ownership of Aamby Valley highlights the complexities and challenges faced by large-scale real estate developments in India. It also emphasizes the significance of addressing financial irregularities and ensuring compliance with regulations to uphold the trust of investors.

With the legal disputes now behind them, the Sahara Group can focus on realizing their vision for Aamby Valley. As one of India's prime luxury destinations, Aamby Valley holds immense potential for growth and prosperity, offering residents and visitors a unique and exclusive experience amidst stunning natural surroundings.

In a recent development, the control of Aamby Valley, the luxury resort town near Mumbai, has been retained by the Sahara group. The ownership dispute over Aamby Valley has been ongoing for several years, resulting in a legal battle between various parties. With its picturesque landscape and luxurious amenities, Aamby Valley has been a sought-after destination for the elite. Situated amidst picturesque Sahyadri mountains, the township offers a wide range of premium residential properties, international-standard golf course, and a host of recreational facilities. The dispute over the ownership of Aamby Valley stemmed from a legal tussle between Sahara Group and The Securities and Exchange Board of India (SEBI), the financial regulator. The SEBI claimed that the Sahara group failed to repay billions of dollars to investors who had bought certain bonds issued by Sahara. In 2012, the Supreme Court had ordered the Sahara group to repay the investors, and as part of the process, it had ordered the attachment of Aamby Valley. The court-appointed a liquidator to sell the property to recover the money owed to the investors. However, Sahara Group managed to raise funds and paid off a substantial portion of the required amount, resulting in the Supreme Court granting more time to settle the remaining dues. As a result, the court allowed Sahara Group to retain control over Aamby Valley. The decision comes as a relief for the Sahara Group, which has been actively trying to resolve the ownership dispute and retain control over the prestigious township. Sahara Group has stated its commitment to making the necessary payments and resolving the outstanding issues related to the bonds issued by the group. The retention of control by the Sahara Group is expected to allow for the further development and enhancement of Aamby Valley. The group has plans for transforming the township into a world-class integrated city with modern infrastructure, amenities, and services. The legal battle surrounding the ownership of Aamby Valley highlights the complexities and challenges faced by large-scale real estate developments in India. It also emphasizes the significance of addressing financial irregularities and ensuring compliance with regulations to uphold the trust of investors. With the legal disputes now behind them, the Sahara Group can focus on realizing their vision for Aamby Valley. As one of India's prime luxury destinations, Aamby Valley holds immense potential for growth and prosperity, offering residents and visitors a unique and exclusive experience amidst stunning natural surroundings.

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