Sahara Group receives 163 interests from 59 buyers for 30 properties

Sahara Group receives 163 interests from 59 buyers for 30 properties

Sahara Group has received 163 interests from 59 prospective buyers for 30 properties across the country, including Lucknow, Delhi, Pune, Indore, Chandigarh and Noida, informed the group.

“Twice we advertised in various newspapers all over the country for selling around 30 properties. In response, we have received 163 expressions from 59 prospective buyers and the deals are in process,” said a Sahara spokesperson.

He added that the details of the buyers have been submitted to the court. However, he declined to comment on each prospective buyer. The Supreme Court on Monday directed the Bombay High Court liquidator to begin the process of selling the Sahara Group’s Aamby Valley project following the company’s failure to pay Rs 37,000 crore in dues to the Securities and Exchange Board of India (Sebi).

It also directed group chairman Subrata Roy to appear in court in person on April 28 to explain his failure to pay the dues despite being out on bail.

However, the group has so far only paid Rs 10,000 crore.

Roy has offered to pay the rest in installments ending in 2018, a move that has not found favour with the courts. Roy has been out on bail since his mother’s death late last year. He had insisted he could not pay off the dues while in jail and sought his freedom saying it would be easier to raise funds.

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