Sahara Seeks Court Nod to Sell Assets to Adani Properties

03 Oct 2025 CW Team

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 The group added that some individuals had attempted unauthorised dealings in assets, citing outdated board resolutions, but action was taken to block such moves.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.

Building Material

11 Dec 2025

Suraj Estate Wins Euromoney Award for India’s Best Residential Developer

"Suraj Estate Developers Limited has received the Euromoney Real Estate Award 2025 for ‘India’s Best Residential Developer’, positioning the company among globally benchmarked leaders in the sector. The recognition reflects its four-decade legacy in delivering high-quality residential and redevelopment-led projects across South Central Mumbai. The Euromoney Real Estate Awards, presented by the London-based Euromoney magazine, are widely regarded as one of the most credible global assessments of performance in real estate, banking and finance. Winners are selected through surveys of inte..

Lloyds Metals, Tata Steel Sign MoU to Explore Strategic Collaboration

"Lloyds Metals and Energy Limited has signed a non-binding Memorandum of Understanding with Tata Steel Limited to evaluate potential areas of strategic cooperation across mining, logistics, pelletisation and steelmaking. The MoU was signed by B Prabhakaran, Managing Director of Lloyds Metals, and Mr T V Narendran, CEO and Managing Director of Tata Steel. The partnership framework aims to leverage the natural operational synergies between both companies and assess opportunities in greenfield steel projects, iron ore mining, slurry pipeline infrastructure, pellet manufacturing in iron ore–ric..

IndiaAI, Gujarat Govt Host Regional Conclave Ahead of 2026 AI Summit

The IndiaAI Mission under the Ministry of Electronics and Information Technology, along with the Government of Gujarat and IIT Gandhinagar, convened a Regional Pre-Summit Event at Mahatma Mandir, Gandhinagar. The initiative is part of the build-up to the India–AI Impact Summit 2026, scheduled for 15–20 February 2026 at Bharat Mandapam, New Delhi. The conclave brought together senior policymakers, technology leaders, researchers and industry practitioners to examine how AI can accelerate economic, digital and social transformation across sectors. The programme focused on the overarching th..