NEW DELHI: A Mauritius-based investor, Royale Partners Investment Fund, on Friday said it has offered to invest $1.67 billion (over Rs 10,700 crore) in embattled Sahara group's Aamby Valley project.The investment offer, proposed as a debt arrangement, comes at a time when the Supreme Court has ordered auction of the Aamby Valley resort town between Mumbai and Pune in Maharashtra. Sahara group pegs the market valuation of this project at over Rs 1 lakh crore.Royale Partners Investment Fund Limited, registered in Mauritius as a global business company, is owned by Dubai- headquartered RPMG Investment which is into investment management, private equity, asset management and proprietary trading.Replying to emailed queries about its proposed deal with Sahara group, RPMG Investment told PTI, "As deposed by Sahara before the Supreme Court of India, Royale Partners Investment Fund Ltd and its Limited Partners have agreed to invest $1.67 billion in the Aamby Valley Project.It, however, declined to share further details, saying the deal terms are confidential. "The terms and conditions have been outlined in the agreements signed with Aamby Valley India and are confidential. As the Supreme Court of India is seized of the matter, it is not appropriate for us to comment any further at this stage," the company said.Sahara's advocate Gautam Awasthi, meanwhile, said in a statement that the group had moved an application before the Supreme Court seeking permission for entering into an agreement with Victor Koenig UK Limited, with the nominee Royale Partners Investment Fund Limited, for inviting an investment of $1.67 billion into its Aamby Valley project. "With the aforesaid proposal, Sahara's had also prayed for stopping the auction process.

Source: Times of India August 11, 2017 14:24 UTC