Bombay HC Puts Up Sahara’s Aamby valley For Public Auction At 37K Cr

August 14, 2017 11:38
Bombay HC Puts Up Sahara’s Aamby valley For Public Auction At 37K Cr

Bombay HC Puts Up Sahara’s Aamby valley For Public Auction At 37K Cr:- The Bombay High Court, has put up the prestigious Aamby Valley property in Maharashtra for a public auction on Monday. The property is owned by Sahara Group - Subrata Roy.

As part of efforts to partially recover the pending dues to various lenders, the Official Liquidator (OL) for the Aamby Valley City in Lonavala has put up a reserve price of Rs 37,392 crore. After the Supreme Court declined to entertain the Sahara Group’s petition to postpone auction of the prime hill station property, this move of the HC comes in. The Aamby Valley is nestled in the lush green Western Ghats in Pune district.

The notices in prominent media were issued by Bombay High Court OL, Vinod Sharma on Monday, for the public auction of “sale/lease” of the property. The auction, in view of the huge quantum of properties to be disposed, would be conducted in two phases spread over two days, said the OL.

An integrated hill-city township called Aamby Valley City Development, which was the first of its kind Megalopolis, spread over 6,761.64 acres, land measuring 1,409.87 acres surrounding this project and another 321.66 acres within adjoining Satara district comprises the property. The OL describing the property for the prospective bidders said, it is located over a abundant expense, nested amidst the picturesque environs of the great Sahyadri Mountain range.

“The ultra-exclusive chartered city has residential options ranging from the Timber Chalets to fabulously modern and customized villas in distinct architectural styles and several amenities such as gold course, airport, hospital, adventure sports, retail, entertainment, international school and hospitality,” the OL’s auction notice said.


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