No relief for Subrata Roy as Supreme Court refuses to lift the attachment on Aamby Valley

Supreme Court: The 3-judge bench of Dipak Misra, Ranjan Gogoi and Dr. A.K. Sikri, JJ refused to entertain the plea of Sahara Group of Companies to stop the auction and lift the attachment on the Aamby Valley City and allow Aamby Valley Ltd., to enter into the agreement with Royal Partners Investment Fund Ltd., for investment of US$ 1.67 Billion.

The Court said that it is not inclined to entertain the aforementioned  prayers, however, if the applicant enters into any negotiations and deposits the amount before this Court, appropriate order shall be passed on the next date of hearing. [SEBI v. Sahara India Real Estate Corpn. Ltd., CONMT.PET.(C) No. 412 /2012, order dated 10.08.2017]

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