23
Sunday
April 2017
11:08 AM IST
News Headlines
Home   | Main News   | International  | National   | Business   | Sports   | Special News   | Feature News   | Entertainment   | About Deepika 
BUSINESS NEWS
Annoyed SC orders auction of Sahara's pricey Aamby Valley property
 
(NEW DELHI, Apr, 17,2017):As it threatened to do before+ , the Supreme Court today ordered the auction of Sahara's Aamby Valley property after it failed to deposit instalment of Rs 300 crore.

It also rapped disgraced Sahara chief Subrata Roy and said he "would do well" to keep his promises and not go back on anything he agrees to in court. It was referring to Roy's undertakings to court earlier, regarding repayment of Rs 25,000 crore to investors through SEBI.

"Indulgence shown by the court have been misused," said the apex court bench, referring to several parole leaves granted Roy to attend rituals after his mother passed away.

"Resile from earlier undertakings only at your peril," a bench of Justices Dipak Misra, Ranjan Gogoi and AK Sikri warned. The term 'resile' means 'to abandon a position or a course of action'.

In March, the Supreme Court had said that it would auction off Sahara's prime Aamby Valley property in Pune, if the company failed to deposit Rs 5,000 crore of the Rs 14,000 crore outstanding by April 17. Sahara values the property at Rs 34,000 crore.

The top court said that it would be left with no option but to sell the property if the group failed to deposit the amount. The bench had in February already directed the attachment of the property.


The SC had in August 2012 ordered Sahara to repay over Rs 25,000 crore to investors by depositing the amount with market regulator SEBI after it found that two group companies Sahara Real Estate and Sahara Housing had illegally collected the sum from three crore investors. Sahara has so far deposited over Rs 11,000 crore, of which Rs 6,000 crore was paid after the apex court sent Roy and two directors to jail on March 4, 2014.


LIC to infuse Rs 407 cr in IDBI; hike stake to 14.25%
Hero Cycles eyes setting up Rs 400 cr project
Consumers get a free hand on hotel service charge payout
Mobile subscriber base reaches 895.25 mn in March
India may bounce back from demonetisation: IMF
OPEC oil cuts could continue, Saudi minister suggests
Activa overtakes bikes, revives scooter raj in India
China GDP growth surpasses expectations, bolstering global outlook
Amazon gets RBI nod for e-wallet in India
Infosys to return Rs 13,000 crore to shareholders
Mobile towers 'completely safe', insists COAI
Two Fortis Healthcare directors resign
Flipkart acquires eBay’s India biz to fight Amazon
Objectives of demonetisation met to large extent: Sitharaman
IndiGo operates 900 flights on a single day
NIIT CEO Rahul Patwardhan quits
No estimates of undeposited black money in old notes: Govt.
Reliance Jio withdraws Jio Summer Surprise offer on TRAI advice
India, UK vow to fight tax evasion, up fin service synergy
Post Brexit, UK wants to deepen trade ties with India
ENTERTAINMENT
Sushmita Sen opens up on her dream role
 Bollywood actress Sushmita Sen today said having explored comedy, drama and emotions, she now wants to play the role of a mature woman in a film.  
"Frustrated netizens criticize senior film makers like me"
Renji Panicker delighted over the success of 'Raees'
Jackie unbeatable, never tired: Sonu Sood
FEATURE NEWS
JEE Main 2017 over, “Cutoff expected to be 105”, say experts
 JEE Main 2017 Cutoff is expected to be around 105, claim experts. The exam concluded on Sunday with completion of online mode.
Not so 'NEET' after all
Mundrothuruthu: A Disappearing Fertile Island
Pregnant women constrained to give birth on public road sides
SPECIAL NEWS
Cool-headed duck becomes latest Internet sensation !
 Tigers are fierce animals. But, a tiger of Australia's Symbio Wildlife Park had to give up all his efforts to get hold of a duck.
Kalolsavam 2017: Manju steals the limelight
A sparkling gem of an artist
7 steps to beat childhood obesity
Rashtra Deepika LTD
Copyright @ 2017 , Rashtra Deepika Ltd.