SC seeks Centre, SEBI response on Sahara asset sale to Adani

The Supreme Court on Tuesday asked the Centre, SEBI and other stakeholders to respond to a plea filed by Sahara India Commercial Corporation Ltd (SICCL) for permission to sell its 88 prime properties to Adani Properties Private Ltd.

The SICCL has moved the SC, seeking its nod to sell 88 properties, including Amby Valley in Maharashtra, to Adani Properties Pvt Ltd.

While hearing SICCL’s plea in the long-pending matter relating to the Sahara Group’s refund obligations, a Special Bench led by CJI BR Gavai ordered that ministries of Finance and Cooperation be made parties to the present proceedings, and sought their response to the plea by November 17 – the next date of hearing.