Aamby Val­ley: SC irked over Sa­hara’s let­ter to po­lice

Warns of jail if any­one im­pedes auc­tion

The Hindu - - NATION - Le­gal Cor­re­spon­dent

The Supreme Court on Thurs­day took strong ob­jec­tion to the Sa­hara Group al­legedly ob­struct­ing the auc­tion of Aamby Val­ley and warned that any­body try­ing to im­pede it in fu­ture would be held guilty of con­tempt and sent to jail. Mar­ket reg­u­la­tor Se­cu­ri­ties and Ex­change Board of In­dia (SEBI) had moved a con­tempt plea against Sa­hara, claim­ing that the group ob­structed the auc­tion by writ­ing a let­ter to Pune’s SP (Ru­ral) rais­ing the is­sue of law and or­der at the prime prop­erty.

‘Not a sin­gle bid­der’

A three-judge Spe­cial Bench, led by Jus­tice Di­pak Misra, was in­formed by SEBI coun­sel and se­nior ad­vo­cate Arvind Datar that be­cause of this com­mu­ni­ca­tion dated Septem­ber 28, the po­lice had taken over the prop­erty, fol­low­ing which the auc­tion could not hap­pen.

“There was not a sin­gle bid­der. The auc­tion pe­riod is over,” Mr. Datar sub­mit­ted.

The court di­rected the Ma­ha­rash­tra DGP to en­sure that the pos­ses­sion of the prop­erty was re­turned to the Supreme Court’s of­fi­cial liq­uida­tor in the next 48 hours.

The liq­uida­tor shall then pro­ceed with the auc­tion un­der the di­rect su­per­vi­sion of the com­pany judge.

The court di­rected the liq­uida­tor to take the guid­ance of Jus­tice A.S. Oka, a judge of the Bom­bay High Court, in the mat­ter. It did not deem it nec­es­sary to hear se­nior ad­vo­cate Mukul Ro­hatgi for Sa­hara, say­ing “You should not have writ­ten that com­mu­ni­ca­tion to the po­lice.” The apex court, how­ever, clar­i­fied that it was not ini­ti­at­ing any con­tempt ac­tion at this stage.

A file photo of Aamby Val­ley re­sort.

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