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Takeover of Sahara’s Aamby Valley properties to begin tomorrow

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Aamby-vaaley

[vc_row][vc_column][vc_column_text]The Bombay High Court receiver, appointed by the Supreme Court to take over the management of Sahara Group’s Aamby Valley luxury township near Pune, has told the property’s CEO Vivek Kumar that the process of taking ‘symbolic possession of Aamby Valley City’ would begin Monday, Dec 11.

In a communique sent on Friday, Dec 8, the receiver asked Kumar to be present at the properties ‘on the date and time mentioned in the schedule’ with all relevant documents and also ‘to intimate concerned persons at the sites about the said visit’.

The Supreme Court, on Nov 23 last, had ordered the official receiver at the Bombay High Court to take over the management of affairs of Aamby Valley, to ensure that the auction of the property proceeds smoothly. There had been allegations that a previous attempt to sell the property was obstructed. There was also fear of encroachment and the possibility of not finding any bidder for it, according to media reports.

The bench of Chief Justice Dipak Misra and judges Ranjan Gogoi and A K Sikri said: “The duty of the receiver is to see the valuation is not reduced and the property is maintained.”

The takeover by court receiver will end control and possession of the Sahara group over the Rs 37,000-crore property, spread across 43 sq km off Lonavla, on the Mumbai-Pune Highway.

Earlier this year, the Court had ordered the township’s auction after Sahara failed to pay the Securities and Exchange Board of India (SEBI) the amount fixed by the court’s 2012 order. SC had originally ordered Sahara India Real Estate and Sahara Housing Invest Corp to refund Rs 24,029 crore raised from 29.6 million investors, along with an interest of 15 per cent. Sahara repaid only Rs 5,120 crore and claimed the rest was refunded to the investors directly. The court did not buy this argument and sent group chief Subrata Roy to Delhi’s Tihar jail in 2014.

Roy was released on parole in 2016 and some amount was paid in instalments. With delay, however, interest on the due accumulated and the dues mounted to over Rs 40,000 crore. The court ordered the auction of Aamby Valley as the final option to end the proceedings that have dragged on for seven years.[/vc_column_text][/vc_column][/vc_row][vc_row css=”.vc_custom_1512906641297{margin-bottom: 20px !important;border-bottom-width: 20px !important;padding-top: 20px !important;padding-bottom: 20px !important;background-color: #a2b1bf !important;}”][vc_column][vc_column_text]Outward No. of 2017. Bank of India Building, 2nd Floor,

(G.C.P.)J1879(1,25,000112007)

Mahatma Gandhi Marg,

Tel. No.22670219 (Office) Fort, Mumbai – 400 023

From : D. R. Shetty, Date :8th December, 2017

COURT RECEIVER, HIGH COURT, BOMBAY

To,

Mr. Vivek Kumar

C.E.O., AambyValley City

Hotel Sahara Star,

Opp. Domestic Airport,

VileParle

(East)

Mumbai 400 057.

Sub. :Compliance of the order dated 23/11/2017 passed by Hon’ble Supreme Court in the matter of Securities And Exchange Board of India V/s Subrata Roy Sahara & Ors.

Ref. :order dated 23rd November, 2017 in Conmt. Petition (c) Nos. 18201822/2017 in Conmt. Pet. (c) Nos. 412 and 413/2012 in C.A. Nos. 9813 and 9833/2011

Sir,

Apropos of the subject referred above, I am directed to inform you that as per above referred order, Court Receiver, High Court, Bombay is appointed as official Receiver in respect of Aamby Valley City. In compliance of this order, Court Receiver, High Court, Bombay has fixed an appointment to take symbolic possession of Aamby Valley City at Lonavala and properties belonging to Aamby Valley Limited at Village Dabhedabhekar, Tal. Mahabaleshwar, Sambhukhed, Tal. Mann, and Yerphale, Tal.Patan, Dist. Satara as per the schedule given below.

Therefore, you are requested to remain present on the date and time mentioned in the schedule given below with your officers along with documents of title, revenue records, survey record, approved maps, licenses, contracts, agency agreements, seal and stamp of your office and other necessary documents. You are also requested that the extra sets of copies of all these documents be brought on site. You are further requested to intimate concerned persons at the sites about the said visit.

Yours faithfully,

Sd/COURT

RECEIVER.

Schedule

Description of properties Date of

visit/appointment

1 Aamby Valley City, Taluka – Mulshi, Lonavala, Dist. Pune – 11/12/2017 at 9.30 a.m.

2 Aamby Valley Limited property, Gat No.76 at village Yerphale, Tal. Patan, Dist. Satara – 12/12/2017 at 9.00 a.m.

3 Aamby Valley Limited Property, Gat No.334, 287, 298, 321A,321B, 321C, 338 and 320 at Village Sambhukhed, Tal. Mann, Dist, Satara – 12/12/2017 at 2.00 p.m.

4 Aamby Valley Limited Property, Gat No. 2/66, 10/74 Village Dabhedabhekar, Tal. Mahabaleshwar, Dist. Satara – 13/12/2017 at 10.00 a.m

Encl.:Copy of order dated 23.11.2017 of Hon’ble Supreme Court.[/vc_column_text][/vc_column][/vc_row]

India News

Amit Shah counters delimitation concerns, says southern states to gain Lok Sabha seats

Amit Shah assures Parliament that southern states will gain Lok Sabha seats after delimitation, countering opposition criticism during the women’s reservation debate.

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Amit Shah

Union Home Minister Amit Shah on Thursday addressed concerns over the proposed delimitation exercise, asserting in the Lok Sabha that southern states will not lose representation but instead see an increase in their number of seats.

His remarks came during a heated debate linked to the implementation of women’s reservation, where opposition parties have raised fears that population-based delimitation could reduce the political weight of southern states.

Shah rejected these claims, calling them misleading, and said the proposed framework ensures fairness while expanding the overall strength of the Lok Sabha.

Seat count to rise with expansion of Lok Sabha

The government has indicated that the total number of Lok Sabha seats could increase significantly as part of the delimitation process. In this expanded House, the combined representation of southern states is expected to rise from 129 seats at present to around 195 seats.

Shah emphasised that no state will lose seats in absolute terms, and the exercise is designed to reflect population changes while maintaining balance across regions.

State-wise projections shared in Parliament

During his address, Shah also provided indicative figures for individual southern states, suggesting notable increases in representation. According to the projections:

  • Tamil Nadu could see its seats rise substantially
  • Kerala, Telangana, and Andhra Pradesh are also expected to gain additional seats
  • Karnataka’s representation may increase as well

These figures were presented to counter the argument that delimitation would disproportionately favour northern states.

Political debate intensifies over linkage with women’s quota

The delimitation exercise has been closely linked to the rollout of women’s reservation, which proposes one-third seats for women in Parliament and state assemblies.

Opposition leaders have questioned this linkage, arguing that tying reservation to delimitation could delay its implementation and raise federal concerns. Some leaders have also warned that the move could impact national unity if apprehensions among states are not addressed.

The government, however, maintains that the reforms are necessary to ensure equitable representation and to align the electoral system with demographic realities.

Centre dismisses ‘false narrative’ on southern states

Shah reiterated that concerns about southern states losing influence are unfounded. He said the delimitation process will increase representation across regions and described the criticism as a “false narrative” aimed at creating confusion.

The issue is expected to remain a key flashpoint as Parliament continues discussions on the women’s reservation framework and related legislative changes.

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PM Modi assures no discrimination in women’s quota, delimitation debate intensifies in Parliament

PM Narendra Modi has assured that women’s reservation will be implemented without discrimination, amid a heated debate over delimitation in Parliament.

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PM modi

Prime Minister Narendra Modi has assured that there will be no discrimination in the implementation of women’s reservation, as Parliament witnessed a sharp debate over the proposed linkage between the quota and delimitation exercise.

During the ongoing special session, the government reiterated its commitment to ensuring fair representation while addressing concerns raised by opposition parties regarding the timing and structure of the legislation.

The proposed framework aims to reserve 33 percent of seats for women in the Lok Sabha and state assemblies. However, its implementation is tied to a fresh delimitation exercise, which is expected after the next census.

Opposition questions timing and intent

Opposition leaders have raised concerns that linking the women’s quota to delimitation could delay its implementation. They argue that the process of redrawing constituencies may push the actual rollout further into the future.

The issue has triggered a broader political confrontation, with multiple parties questioning whether the move could alter representation across states.

Some critics have also alleged that the delimitation exercise could disproportionately benefit certain regions based on population, a charge the government has rejected.

Government reiterates commitment to fair implementation

Responding to these concerns, the Centre has maintained that the reforms are necessary to ensure accurate and updated representation based on population data.

Leaders from the ruling side have repeatedly emphasized that the process will be carried out transparently and without bias. The assurance that there will be “no discrimination” is aimed at addressing fears among states and opposition parties.

The debate marks a key moment in Parliament, with both sides engaging in intense exchanges over one of the most significant electoral reforms in recent years.

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Give all tickets to Muslim women, Amit Shah says, attacking Akhilesh Yadav on sub-quota demand

A sharp exchange between Amit Shah and Akhilesh Yadav in Parliament over sub-quota for Muslim women highlights key divisions on women’s reservation implementation.

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A heated exchange broke out in Parliament during discussions on the women’s reservation framework, with Union Home Minister Amit Shah and Samajwadi Party chief Akhilesh Yadav locking horns over the demand for a sub-quota for Muslim women.

The debate unfolded as the government pushed forward key legislative measures to implement 33% reservation for women in the Lok Sabha and state assemblies.

Akhilesh Yadav argued that the proposed reservation must ensure representation for women from marginalised communities, including Other Backward Classes (OBCs) and Muslim women. He said that without such provisions, large sections could remain excluded from political participation.

He also questioned the timing of the bill, alleging that the Centre was avoiding a caste census. According to him, a census would lead to renewed demands for caste-based reservations, which the government is reluctant to address.

Government rejects religion-based quota

Responding to the demand, Amit Shah made it clear that reservation based on religion is not permitted under the Constitution.

He stated that any proposal to provide quota to Muslims on religious grounds would be unconstitutional, firmly rejecting the idea of a separate sub-quota for Muslim women within the broader reservation framework.

The government has maintained that the existing framework already includes provisions for Scheduled Castes (SC) and Scheduled Tribes (ST) women within the overall reservation structure.

Wider political divide over implementation

The issue of sub-categorisation within the women’s quota has emerged as a major flashpoint, even as most opposition parties broadly support the idea of women’s reservation.

Samajwadi Party leaders reiterated that their support for the bill depends on inclusion of OBC and minority women, while the government continues to defend its constitutional position.

The debate is part of a broader discussion during the special Parliament session, where multiple bills linked to delimitation and implementation of the women’s quota are being taken up.

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