+
Sahara Seeks Court Nod to Sell Assets to Adani Properties
Real Estate

Sahara Seeks Court Nod to Sell Assets to Adani Properties

Sahara India Commercial Corporation Ltd (SICCL) has moved the Supreme Court seeking permission to sell several properties, including Amby Valley in Maharashtra and Sahara Shaher in Lucknow, to Adani Properties Private Ltd.
The plea, filed through advocate Gautam Awasthi, seeks approval to sell assets under a term sheet signed on 6 September 2025. It is likely to be heard on 14 October. The interlocutory application comes in ongoing Sahara-related proceedings before the apex court.
According to the plea, out of a principal liability of Rs 240.3 billion, Sahara has managed to realise about Rs 160 billion through sale and liquidation of assets, which has been deposited into the SEBI–Sahara Refund Account. It said SEBI had been unable to monetise Sahara assets despite engaging reputed estate agencies, with the proceeds deposited solely through Sahara’s efforts.
The group noted that since the death of Subrata Roy in November 2023, Sahara lost its sole decision-maker. Although his family was not involved in daily operations, they have decided to safeguard investor interests by liquidating assets at maximum value and speed to meet court directives and close contempt proceedings.
However, attempts to sell properties were hampered by weak market conditions, lack of viable offers, multiple litigations, and inquiries by investigating agencies, which eroded buyer confidence. The group added that some individuals had attempted unauthorised dealings in assets, citing outdated board resolutions, but action was taken to block such moves.
The SICCL said the proposed sale of 88 properties to Adani represents a breakthrough in unlocking value and ensuring compliance with court-ordered obligations.
On 12 September, the Supreme Court had directed disbursal of Rs 50 billion from the Rs 240.3 billion Sahara deposits with SEBI towards repayment of dues owed to depositors of Sahara Group’s cooperative societies, continuing from an earlier March 2023 order. 

Sahara India Commercial Corporation Ltd (SICCL) has moved the Supreme Court seeking permission to sell several properties, including Amby Valley in Maharashtra and Sahara Shaher in Lucknow, to Adani Properties Private Ltd.The plea, filed through advocate Gautam Awasthi, seeks approval to sell assets under a term sheet signed on 6 September 2025. It is likely to be heard on 14 October. The interlocutory application comes in ongoing Sahara-related proceedings before the apex court.According to the plea, out of a principal liability of Rs 240.3 billion, Sahara has managed to realise about Rs 160 billion through sale and liquidation of assets, which has been deposited into the SEBI–Sahara Refund Account. It said SEBI had been unable to monetise Sahara assets despite engaging reputed estate agencies, with the proceeds deposited solely through Sahara’s efforts.The group noted that since the death of Subrata Roy in November 2023, Sahara lost its sole decision-maker. Although his family was not involved in daily operations, they have decided to safeguard investor interests by liquidating assets at maximum value and speed to meet court directives and close contempt proceedings.However, attempts to sell properties were hampered by weak market conditions, lack of viable offers, multiple litigations, and inquiries by investigating agencies, which eroded buyer confidence. The group added that some individuals had attempted unauthorised dealings in assets, citing outdated board resolutions, but action was taken to block such moves.The SICCL said the proposed sale of 88 properties to Adani represents a breakthrough in unlocking value and ensuring compliance with court-ordered obligations.On 12 September, the Supreme Court had directed disbursal of Rs 50 billion from the Rs 240.3 billion Sahara deposits with SEBI towards repayment of dues owed to depositors of Sahara Group’s cooperative societies, continuing from an earlier March 2023 order. 

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code