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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]

Bihar news

Mokama shootout case: Former Bihar MLA Anant Singh surrenders, sent to jail

Singh’s supporters retaliated to the initial attack, leading to the intense exchange of gunfire that gripped the area. The incident underscores the deep-seated power struggles and lawlessness that persist in certain parts of Bihar.

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Former Bihar MLA Anant Singh surrendered to a Barh court on Friday, facing charges related to a shootout on the outskirts of Patna. The incident, which occurred Wednesday evening, involved an alleged attack on Singh’s convoy by the notorious Sonu-Monu gang. The ensuing exchange of gunfire, according to eyewitness accounts, involved a significant volume of shots – estimates ranging from 60 to 70 rounds, though police reported a lower figure of 16-17.

Remarkably, Singh escaped unharmed. Following his surrender, he was remanded to Beur jail. Patna Senior Superintendent of Police (SSP) Awkash Kumar confirmed the surrender and the filing of three separate FIRs concerning the incident.

The shootout unfolded amidst a backdrop of escalating tensions in Mokama, a region with a history of violent crime and political rivalry. The involvement of the Sonu-Monu gang, known for its criminal activities, added a layer of complexity to the already volatile situation.

Singh’s supporters retaliated to the initial attack, leading to the intense exchange of gunfire that gripped the area. The incident underscores the deep-seated power struggles and lawlessness that persist in certain parts of Bihar.

Adding to the escalating tension, another shooting incident was reported on Friday in Hamza village, under the jurisdiction of Panchmahal police station in Mokama. Three spent cartridges were found near Mukesh Singh’s house, prompting an immediate investigation.

Senior police officials were deployed to the scene to assess the situation and gather evidence. The timing and location of this second incident suggest a possible connection to the previous day’s events, raising concerns about further escalation of violence.

Police have apprehended two suspects, Sonu and Roushan, in connection with Wednesday’s shooting. Investigations suggest that the Sonu-Monu gang specifically targeted Mukesh Singh, a former associate of the gang who had allegedly sought protection and assistance from Anant Singh. This suggests a complex network of allegiances and betrayals within the criminal underworld of Mokama.

Anant Singh, a controversial figure with a history of both political success and criminal accusations, has been a prominent figure in Mokama’s political landscape for years. His past includes a conviction in 2020 related to the recovery of an AK-47 rifle and other weapons from his ancestral home, resulting in his disqualification from the assembly.

However, he was acquitted of these charges in August 2024. His wife, a former MLA, recently shifted her political allegiance from the RJD to Chief Minister Nitish Kumar’s JD(U), further complicating the political dynamics of the region.

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Bollywood news

FIR filed against Shreyas Talpade, Alok Nath, 11 others in cheating case in Haryana

The case has sent ripples through the Bollywood industry, casting a shadow over the careers of both actors. While the details of their alleged involvement remain under investigation, the allegations raise serious questions about their conduct and potential complicity in a scheme that defrauded numerous investors.

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Bollywood actors Shreyas Talpade and Alok Nath find themselves embroiled in a significant legal controversy, named as accused in a cheating and breach of trust case registered at the Murthal police station in Sonipat, Haryana.

The First Information Report (FIR), filed on January 22, lists the two prominent actors among thirteen individuals charged under Sections 316 (2), 318 (2), and 318 (4) of the Bharatiya Nyaya Sanhita. These charges encompass criminal breach of trust, cheating, and the fraudulent transfer of property.

The complainant, Sonipat resident Vipul Antil, levelled accusations against the Human Welfare Credit Cooperative Society, registered in Indore under the Multi-State Cooperative Societies Act of 2002. Antil alleges that the society, active across multiple states, including Haryana, since September 16th, 2016, lured investors with promises of exorbitant returns on fixed deposits (FDs) and recurring deposits (RDs).

The society employed a multi-level marketing strategy, incentivizing agents to recruit additional investors, creating a pyramid scheme structure that ultimately led to widespread financial losses.

Ajeet Singh, the Additional Commissioner of Police (ACP) in Murthal, confirmed the inclusion of Talpade and Nath’s names in the list of accused, based on statements provided by the complainant. Singh clarified that the primary focus of the investigation remains the alleged fraudulent activities of the cooperative society, and the police are currently working to determine the specific roles, if any, played by Talpade and Nath in the alleged scheme. The investigation will delve into the extent of their involvement and whether they directly benefited from the alleged fraudulent activities.

The case has sent ripples through the Bollywood industry, casting a shadow over the careers of both actors. While the details of their alleged involvement remain under investigation, the allegations raise serious questions about their conduct and potential complicity in a scheme that defrauded numerous investors.

Shreyas Talpade’s most recent cinematic appearance was in Kangana Ranaut’s directorial debut, Emergency, a historical drama set during India’s tumultuous Emergency period from 1975 to 1977. Alok Nath, a veteran Bollywood actor, boasts a prolific career spanning over three decades and encompassing over 300 films, establishing him as a familiar face in Indian cinema. The unfolding investigation will determine the extent of their involvement in this complex financial crime and the consequences they may face.

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India News

BPSC results out: Aspirants react as controversy, protests over paper leak persist

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BPSC aspirants ask Prashant Kishore to step back from protest site, political strategist-turned-politician responds

The Bihar Public Service Commission (BPSC) declared the results for the 70th Combined Competitive Exam (CCE) on January 23, 2025. In the hours following the announcement, reactions to the results and the subsequent developments have continued to unfold, with protests, legal challenges, and debates surrounding the exam process showing no sign of abating.

21,581 candidates clear, but tension persists

While 21,581 candidates cleared the preliminary exam, questions remain about the legitimacy of the results. Legal challenges have already been initiated, with petitions filed in the Patna High Court questioning the integrity of the examination process, particularly regarding the status of those who were debarred due to alleged malpractice. The court’s involvement could still alter the final list of successful candidates.

Political impact and ongoing reactions

The protests have also drawn political figures into the fray. Prashant Kishor, leader of the Jan Suraj Party, joined the demonstrations and went on an indefinite hunger strike starting January 2, showing solidarity with the aspirants. His involvement and calls for action have added a political dimension to the controversy, which is now under the scrutiny of Bihar’s government.

Bihar Governor Arif Mohammad Khan recently met with a delegation of aspirants to hear their grievances and assured them that steps would be taken to address their concerns. The Governor also appealed to Prashant Kishor to end his fast, citing health concerns.

Looking ahead: What’s next for the 21,581 pass candidates?

For the candidates who have successfully passed the prelims, the main examination is the next step. However, the future of the recruitment process remains uncertain, with protests, petitions, and public calls for reforms still ongoing. The uncertainty surrounding the exam’s integrity and the lack of clarity on future steps means that the exam’s aftermath will likely continue to dominate discussions.

As the BPSC navigates the fallout from this highly contentious exam, it faces increasing pressure to restore public trust and ensure that future recruitment processes are conducted with the highest standards of fairness and transparency.

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