Sahara Group has pegged the market valuation of Aamby Valley at over Rs1 trillion. Photo: AFPMumbai: A Supreme Court-ordered auction process for embattled Sahara Group’s luxurious Aamby Valley resort town began on Monday, with the official liquidator inviting bids at a reserve price of Rs37,392 crore. The auction process has been initiated even as a Mauritius-based investor, Royale Partners Investment Fund, last week said it has offered to invest $1.67 billion (over Rs10,700 crore) in the Aamby Valley project. Referring to the Supreme Court’s direction last week, he said it allowed official liquidator to execute initial two steps of auction process of Aamby Valley. Beyond these, the Supreme Court has not directed any steps till the date of next hearing,” he said.

Source: Mint August 14, 2017 06:03 UTC