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Supreme Court cautioned Subrata Roy from playing with the court’s order

The Supreme Court today asked Bombay High Court’s official liquidator to sell the 34,000 crore rupees worth of properties of the Aamby Valley owned by the Sahara Group and directed its chief Subrata Roy to personally appear before it on April 28. 

Taking strong note of non- submission of over 5,000 crore rupees by the Sahara group, a bench, comprising Justices Dipak Misra, Ranjan Gogoi and A K Sikri also cautioned Roy from playing with the court’s order. It said, non-compliance of its order will invite the wrath of the law and ultimately Roy will be at his own peril.

The bench asked the official liquidator, attached with the Bombay High Court, to auction the Aamby Valley properties and directly report to it. The bench also directed Roy and his group as well as the market regulator SEBI to provide all necessary details relating to the properties to the official liquidator within 48 hours.

Meanwhile, the top court restrained Prakash Swamy, who has filed an affidavit with regard to the sale of Sahara hotels in the USA, from leaving India and asked him to deposit 10 crore rupees as fine with SEBI. Swamy will also have to appear in person in the apex court on April 28.

The top court had earlier directed attachment of Sahara Group’s prime property for realisation of money to be paid to its investors.

By TIS Staffer
the authorBy TIS Staffer

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