Sahara, which has been engaged in a long-running battle with the capital markets regulator, had claimed a valuation of over Rs 1 lakh crore. Sahara had asked the court to postpone the auction till September 16 to enable Sahara group chief Subrata Roy arrange the money. The properties on action include an integrated hill city township spread over 6,762 acres in the great Sahayadri mountain range, 1,410 acres surrounding Aamby Valley City Development and 322 acres within Satara district. Last week, a Mauritius-based investor, Royale Partners Investment Fund, had said it has offered to invest U$1.67 billion (over Rs 10,700 crore) in the Aamby Valley project. Sahara had petitioned the Supreme Court for permission to enter into an agreement with Victor Koenig UK Ltd, with the nominee Royale Partners Investment Fund.

Source: The Telegraph August 14, 2017 09:03 UTC