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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]

Book reviews

The Hill Of Enchantment Review: Ruskin Bond revisits his life as writer

The book not only delineates Ruskin Bond’s journey as a writer but also depicts the changing literary landscape from the 1950s to recent times.

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The Hill Of Enchantment Review: Ruskin Bond revisits his life as writer

India’s most loved and prolific writer from the hill, who wrote his first book when he was around 17, Ruskin Bond, turned 90 this year. In his seven decade literary journey, the author has written more than 500 novels, short stories, and poems set mostly in the hills and mountains of India. 

The Hill Of Enchantment published by Aleph Book Company, is a memoir of his writing journey, with the subtitle, the story of my life as a writer. Bond revisits the people, mountains, railway stations, rooms, and markets that shaped him as an author. He says, characters in his novels and short stories are mostly inspired by the people he met in his life. The author confesses that some characters also portray his adopted family, friends and colleagues. 

Expressing that if a writer wishes to create a little magic with his pen he must find a little magic in his life, Ruskin Bond shares that he only has to open his window to see a magical world – clouds racing across the sky. In the book, the author mentioned how Pari Tibba, Fairy Hill, which he could see from his window, and solitude has influenced his books.

In The Hill of Enchantment, Ruskin Bond pens about how his need for privacy and solitude have inspired his first work, The Room on the Roof, published in 1956. He also portrayed how his frequent visits to a railway station led to the story, Time Stops At Shamli and others. Sharing an anecdote, Bond wrote that his frequent visits to railway stations made him so popular, just like a coolie, he did not have to buy a platform ticket to sit at the railway station.

The book also highlights the ordeal of Indian writers in the days dating back to 1950s to get published as compared to modern writers. It pointed out the change in the literary scene in the twenty-first century, which brought literary festivals along with online forums for writers and publishers. The author says, “writers were becoming faces and mini celebrities”. 

Ruskin Bond’s book not only delineates his journey as a writer but also stresses on the changing literary landscape from 1950s to recent times. The book is an utter testament for the aspiring writers. 

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2024 Lok Sabha Elections

Amit Shah claims NDA has already got 310 seats after 5 phases of Lok Sabha elections

Shah was addressing 2 election rallies in Sambalpur where the BJP has fielded Union Minister Dharmendra Pradhan.

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Amit Shah claims NDA has already got 310 seats after 5 phases of Lok Sabha elections

Union Home Minister Amit Shah on Tuesday claimed that the NDA has already bagged 310 seats after the completion of 5 phases of the Lok Sabha polls. He urged the people of Odisha to free the state from babu-raj and allow the BJP to form government at the Centre and also in the state.  Shah was addressing 2 election rallies in Sambalpur where the BJP has fielded Union Minister Dharmendra Pradhan.

Shah claimed after the 5th phase of elections, the NDA has already got 310 seats and they will secure 400 plus seats after the 6th and 7th rounds of elections. The union home minister added that Odisha has been ruled by a handful of officers and this election will end the ongoing babu raj in the state.

He said that the tribals of Keonjhar get no benefit even though most of the mines and mineral reserves of the country are located in Keonjhar district. Shah enlisted Modi government’s achievements and said that the prime minister has ensured that there is no terrorism across the country. He added that PoK (Pakistan occupied Kashmir) was with India and it would remain with India.

Shah criticized Congress of being frightened over Pakistan possessing an atom bomb and said PM Modi has given a befitting reply to Pakistan’s terror activities and he does not fear such threat of nuclear bombs. He attacked the previous Congress government for doing nothing for tribals. Shah pointed out that former PM Atal Bihari Vajpayee had formed a separate ministry for tribal affairs while Narendra Modi as the PM has worked to eliminate Naxalism in Odisha, Telangana and Andhra Pradesh.

The Union Home Minister said PM Modi has constituted District Mineral Foundation and given crores of rupees for the development of the tribal region. Shah said the budgetary allocation for tribal affairs has been increased to Rs 1.25 lakh crore during Modi government from Rs 25,000 crore given during the previous UPA regime.

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2024 Lok Sabha Elections

Congress accuses PM Modi of communal campaigning, questions his silence on key issues like caste census, reservations

Congress general secretary Jairam Ramesh’s attack came over Modi’s remarks in an interview to the media in which he had said that he has never uttered a word against minorities, and the BJP has not just today but never acted against them.

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Congress accuses PM Modi of communal campaigning, questions his silence on key issues like caste census, reservations

The Congress on Tuesday alleged that Prime Minister Narendra Modi had been indulging in polarisation throughout the election and has prepared a communal pitch, but Congress refused to play on that and pursued its paach nyay agenda. Congress general secretary Jairam Ramesh’s attack came over Modi’s remarks in an interview to the media in which he had said that he has never uttered a word against minorities, and the BJP has not just today but never acted against them.

Jairam Ramesh said that PM Modi’s entire campaign from April 19 has been based on communalisation with the Hindu-Muslim rhetoric throughout and has not talked about Viksit Bharat, issues of the farmers, Modi ki guarantee, women, youth workers, SCs, STs and OBCs.

Speaking about the remarks made by PM Modi on minorities, Ramesh said what nonsense was he talking about?  He further added the prime minister is fast losing his memory and he has never had any adherence to truth. Ramesh called PM Modi a jhoothjeevi and said PM Modi does not remember what he said the day before and then claims that he never said it.

Ramesh said the prime minister had raised the issue of Muslim League imprint on the Congress manifesto, the mangalsutra remarks and the allegation that the Congress will give reservations on the basis of religion, which are all bogus statements.

He said this is the prime minister who, when asked some years ago whether he had any remorse at the killings during the Gujarat riots, said even when a small puppy comes under a car, one feels bad. This is the language that he had been using. Ramesh claimed that when Atal Bihari Vajapayee became the prime minister, L K Advani and company wanted a committee to review the basic structure of the Constitution. Ramesh said Congress boycotted that commission and this has always been the objective of the BJP and the RSS.

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