Bombay HC puts up Sahara's Aamby Valley for auction

INDIA-TYCOON/ Sahara chief Subrata Roy | File

Three days after a Supreme Court directive, the Bombay High Court on Monday put up the beleaguered Sahara Groups prestigious Aamby Valley city in Lonavala for a public auction.

The Official Liquidator for the Aamby Valley city has put up a reserve price of Rs 37,392 crore. Aamby Valley city is considered the jewel in the crown of the Sahara Group. 

In a jolt to Sahara chief Subrata Roy, the Supreme Court had, on August 10, rejected his plea to put on hold the auction process of the group's Aamby Valley property, valued at Rs 34,000 crore.

Soon after, a Mauritius-based investor, Royale Partners Investment Fund, said it has offered to invest $1.67 billion (over Rs 10,700 crore) in the project.

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