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 The group added that some individuals had attempted unauthorised dealings in assets, citing outdated board resolutions, but action was taken to block such moves.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

Infrastructure Urban

03 Oct 2025

Cabinet Clears Rs 15 Billion Biomedical Research Career Phase III

The Union Cabinet chaired by Prime Minister Narendra Modi has approved the continuation of the Biomedical Research Career Programme (BRCP) Phase III, a joint initiative of the Department of Biotechnology (DBT), Government of India, and the Wellcome Trust (WT), United Kingdom. The programme will run from 2025–26 to 2030–31, with an additional six years (2031–32 to 2037–38) to service fellowships and grants, at a total cost of Rs 15 billion, of which DBT will contribute Rs 10 billion and WT Rs 5 billion.Launched in 2008–09 through the DBT/Wellcome Trust India Alliance, the BRCP has bee..

Centre Clears Rs 69.6 Billion Kaziranga Highway Expansion

The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, has approved the widening and upgradation of the Kaliabor–Numaligarh section of NH-715 in Assam, including wildlife-friendly measures on the stretch passing through Kaziranga National Park. The 85.7 km project will be executed in EPC mode at an estimated cost of Rs 69.6 billion.The existing two-lane highway, which runs through Jakhalabandha (Nagaon) and Bokakhat (Golaghat), passes along the boundary of Kaziranga. Seasonal flooding often forces animals to cross the busy road towards the Karbi Anglong Hi..

Govt Approves 57 New Kendriya Vidyalayas Worth Rs 58.6 Billion

The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, has approved the establishment of 57 new Kendriya Vidyalayas (KVs) across India under the civil sector to meet the educational needs of children of Central Government employees. The total estimated outlay is Rs 58.6 billion over nine years from 2026–27, including Rs 25.9 billion for capital expenditure and Rs 32.8 billion for operational costs.For the first time, these schools will include Balvatikas (three years of foundational pre-primary stage) as part of the National Education Policy (NEP) 2020 fra..