**Sahara Seeks Supreme Court Approval to Sell Properties to Adani**
*By Mudit Dube | September 29, 2025, 04:54 PM*
Sahara India Commercial Corporation Limited (SICCL) has filed a plea in the Supreme Court seeking approval to sell several key properties, including Amby Valley in Maharashtra and Sahara Saher in Lucknow. The proposed buyer is Adani Properties Private Limited. The plea, submitted through advocate Gautam Awasthi, has been listed for hearing and is expected to be taken up on October 14.
**Sahara’s Long Journey of Asset Liquidation**
The plea outlines SICCL and the Sahara Group’s extensive efforts to liquidate various movable and immovable assets over time. The proceeds from these asset sales have been deposited into the SEBI-Sahara Refund Account. Out of a total principal amount of ₹24,030 crore, the Sahara Group has realized approximately ₹16,000 crore through the sale and liquidation of their assets.
**Challenges in Liquidation Process**
The petition highlights the Securities and Exchange Board of India’s (SEBI) inability to liquidate Sahara’s assets despite engaging reputed estate brokerage firms. It emphasizes that deposits into the SEBI account were made solely through the Sahara Group and SICCL’s efforts.
Following the death of Sahara Group’s chief, Subrata Roy, in November 2023, the group lost its principal decision-maker. The plea notes that Roy’s family members were not involved in the day-to-day business operations or management of the Sahara Group.
**Decision to Liquidate Assets**
To safeguard investors’ interests, the family has decided to accelerate the liquidation of the group’s assets at the maximum possible value. This move aims to comply with court orders, discharge Sahara Group’s liabilities, and resolve ongoing contempt proceedings.
**Significant Property Sale Deal**
The plea requests the Supreme Court’s approval for the sale of 88 properties, as per a term sheet dated September 6 between SICCL and Adani Properties. The deal represents a major breakthrough by unlocking substantial value from Sahara’s key immovable assets while ensuring adherence to financial obligations dictated by court orders.
On September 12, the Supreme Court had authorized the release of ₹5,000 crore from the ₹24,030 crore deposited by the Sahara Group to repay dues owed to its depositors.
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*Sahara’s proposed property sale to Adani marks a critical step in the group’s ongoing efforts to fulfill its financial responsibilities and conclude prolonged legal proceedings.*
https://www.newsbytesapp.com/news/business/sahara-seeks-supreme-court-nod-to-sell-properties-to-adani/story
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