Those stalling Aamby Val­ley auc­tion would be jailed: SC

The Hitavada - - FRONT PAGE -

THE Supreme Court on Thurs­day took strong ex­cep­tion to the Sa­hara Group al­legedly ob­struct­ing the auc­tion­ing process of Aamby Val­ley and warned that any­body in­dulging in such an act would be held li­able for con­tempt and “sent to jail”.

The apex court was irked when SEBI claimed that the group had al­legedly ob­structed the process by writ­ing a let­ter to the Pune po­lice rais­ing the is­sue of law and or­der at the prime prop­erty.

Tak­ing note of SEBI’s al­le­ga­tion in this re­gard, a bench headed by Jus­tice Di­pak Misra said the group should not have en­tered into a com­mu­ni­ca­tion with Pune’s Su­per­in­ten­dent of the Po­lice (Ru­ral) on the is­sue since the auc­tion has been or­dered by the top court. “If any im­ped­i­ment is caused in the auc­tion­ing process by any­one, he shall be li­able of con­tempt of this court and sent to jail,” the bench, also com­pris­ing Jus­tices Ran­jan Go­goi and A K Sikri, said. The pun­ish­ment for con­tempt is up to six months of sim­ple im­pris­on­ment.

Later how­ever, the apex court clar­i­fied that it was not ini­ti­at­ing any con­tempt ac­tion at this stage. Re­gard­ing SEBI’s al­le­ga­tion that the po­lice has taken cus­tody of the prop­erty due to which no bid­der was will­ing to take part in the auc­tion process, the bench di­rected the Di­rec­tor Gen­eral of Po­lice, Ma­ha­rash­tra, to see that the prop­erty is handed over to the Bom­bay High Court’s of­fi­cial liq­uida­tor within 48 hours.

“You go ahead with the auc­tion,” the bench said. Se­nior ad­vo­cate Arvind Datar, ap­pear­ing for Se­cu­ri­ties and Ex­change Board of In­dia (SEBI), told the bench that the Septem­ber 28 com­mu­ni­ca­tion, ad­dressed by the group to the Pune po­lice re­gard­ing law and or­der sit­u­a­tion at Aamby val­ley, has stalled the on­go­ing auc­tion process.

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