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Takeover of Sahara’s Aamby Valley properties to begin tomorrow

Published

9 years ago

on

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]

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India News

LPU students protest over reported rape allegation, police call it rumour

Students at Lovely Professional University protested over a reported rape allegation involving a worker, with police describing the claim as a rumour.

Published

21 hours ago

on

September 27, 2026

By

Students of Lovely Professional University (LPU) in Punjab staged a protest after an allegation involving the reported rape of a student by a worker at the university surfaced.

The protest led to disruption around the university, with students taking to the streets and blocking the Jalandhar-Phagwara National Highway, according to the report.

The allegation triggered anger among students, who demanded action over the reported incident.

Police describe rape claim as rumour

Police, however, described the rape claim as a rumour, indicating that the allegation had not been established as a confirmed incident.

The distinction is important because the reported sexual assault allegation should not be treated as a confirmed rape unless investigators or other authoritative sources establish that fact.

The protests nevertheless continued as students sought clarity and action over the issue.

Protest disrupts traffic

The student demonstration also affected traffic on the Jalandhar-Phagwara National Highway. The protest brought attention to the allegations and the concerns being raised by students at the university.

With police calling the claim a rumour, further verification and investigation would be necessary to establish what actually happened.

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India News

INDIA bloc likely to meet on September 30 over Gyanesh Kumar row

INDIA bloc parties are likely to meet in New Delhi on September 30 amid growing opposition to Chief Election Commissioner Gyanesh Kumar and the Special Intensive Revision of electoral rolls.

Published

1 day ago

on

September 26, 2026

By

Rahul-Gandhi

Opposition parties belonging to the INDIA bloc are set to meet in New Delhi on September 30 to discuss concerns surrounding the Election Commission, the Special Intensive Revision (SIR) of electoral rolls and a proposed removal motion against Chief Election Commissioner Gyanesh Kumar.

The proposed meeting comes amid growing coordination among opposition parties over the functioning of the poll panel and demands for action against Chief Election Commissioner Gyanesh Kumar. The parties are also discussing a possible joint response to the developments.

Why is the INDIA bloc meeting being planned?

The INDIA bloc meeting on September 30 comes amid reports of objections within the Election Commission over certain decisions and orders related to the SIR exercise. 

According to the report, Opposition leaders have been discussing a coordinated response to their concerns over the Election Commission and the electoral-roll revision process. 

The issue is also expected to be discussed at the Congress Working Committee meeting scheduled for September 29, a day before the proposed INDIA bloc meeting.

Gyanesh Kumar removal demand in focus

The demand for the removal of Chief Election Commissioner Gyanesh Kumar has become a major point of contention between the Opposition and the Election Commission.

The CPI(M), CPI and CPI(ML)-Liberation have demanded Kumar’s removal and an immediate halt to the SIR exercise. Congress has also intensified its criticism of the CEC.

Opposition parties are also working on a fresh removal motion against Gyanesh Kumar. The September 30 meeting is expected to finalise the strategy for the motion, including the collection of signatures. According to the report, this would be the Opposition’s third such attempt. 

What is the SIR controversy?

The political dispute is linked to the Special Intensive Revision of electoral rolls, or SIR.

The controversy intensified following a report that Election Commissioners Sukhbir Singh Sandhu and Vivek Joshi had recorded objections on several occasions concerning decisions and orders related to the SIR process.

The Election Commission has said that differing views and observations are part of normal deliberations in a multi-member constitutional body. The poll panel has also maintained that its orders have legal sanction and follow statutory procedures, while stating that the final decisions on the SIR were taken unanimously. 

TMC and Left parties coordinate over the issue

The developments have also brought the Trinamool Congress and the CPI(M) together on the Election Commission issue, despite their political differences in West Bengal.

CPI(M) general secretary M A Baby proposed an immediate meeting to discuss a joint strategy. According to the report, Mamata Banerjee spoke with M A Baby and Leader of Opposition Rahul Gandhi, after which the leaders settled on September 30 for the meeting. 

What could be discussed at the September 30 meeting?

The proposed meeting is expected to focus on:

  • Concerns surrounding the Election Commission
  • The Special Intensive Revision of electoral rolls
  • Opposition demands concerning CEC Gyanesh Kumar
  • A possible fresh removal notice against the CEC
  • A coordinated response by INDIA bloc parties

The exact agenda and participation will depend on the discussions among the opposition parties before the proposed meeting.

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India News

“Will die but won’t give up”: Sahil Wakode’s parents urge IIT students to continue fight 

Sahil Wakode’s parents have appealed to IIT Bombay students to continue their fight for justice amid the ongoing investigation into their son’s death.

Published

1 day ago

on

September 26, 2026

By

Sahil Wakode

The parents of IIT Bombay student Sahil Wakode have appealed to students to continue raising their voices and fighting for justice following their son’s death.

Sahil Wakode, a second-year student at IIT Bombay, died in his hostel room on September 18. His death has led to student protests and an ongoing investigation by the Mumbai Crime Branch.

What Sahil Wakode’s parents have alleged

Sahil’s parents have alleged that their son faced caste-based discrimination and harassment at IIT Bombay before his death. They have sought action against those they hold responsible and have demanded a thorough investigation into the circumstances surrounding his death.

The family has also called for a CBI inquiry and has sought the arrest of officials named in the case. These remain allegations and are part of the ongoing investigation.

The Mumbai Crime Branch took over the probe after an FIR was registered following the complaint by Sahil’s parents.

IIT Bombay’s position

IIT Bombay has said that Sahil was allegedly caught using a mobile phone during a mid-semester examination and had uploaded the question paper to ChatGPT to seek answers.

The institute has maintained that no disciplinary action had been initiated against him. It said the matter had been discussed with him by the instructor and the Head of the Department, who counselled him and assured him that the incident would not adversely affect his academic career.

The circumstances surrounding Sahil’s death are being investigated by the appropriate authorities.

Investigation continues

The case remains under investigation, with the Mumbai Crime Branch examining the circumstances surrounding Sahil’s death and the allegations made by his family.

His parents have continued to demand justice and action against those they believe were responsible, while the investigation is expected to establish the facts surrounding the case.

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