SC orders auction of Aamby valley owned by Subrata Sahara

New Delhi: The Supreme Court today ordered auction of Sahara's Aamby Valley city and directed official liquidator of Bombay High Court to proceed with auction process. This was after Sahara has failed to pay instalments towards investors' refund. The order was passed by a bench headed by Justice Dipak Misra.

Sahara group founder Subrata Roy has been directed to appear before the court on April 27. Aamby Valley was valued at Rs 34,000 crores in 2012. Sahara will have to provide all the relevant information within 48 hours, and Securities and Exchange Board of India and Bombay High Court officials will have to proceed with the auction once they get the documents. (UNI)