Sahara Group's Property Sale to Adani: A Legal Tangle

The Supreme Court is set to hear Sahara India Commercial Corporation Ltd's plea, seeking approval to sell its properties, including Amby Valley, to Adani Properties. The sale aims to repay investors and fulfill court obligations. Challenges arise from litigation and market conditions post-Subrata Roy's death.

The Supreme Court is poised to consider a plea filed by Sahara India Commercial Corporation Ltd (SICCL) on Tuesday, which seeks approval to sell several key properties to Adani Properties Private Limited.

A special bench led by Chief Justice B R Gavai is scheduled to address the matter amidst ongoing financial challenges faced by the Sahara Group after the passing of its chief, Subrata Roy, in November 2023.

Despite the group's efforts to liquidate assets, stalled market conditions and complex litigations have hindered progress, leaving the Sahara Group committed to resolving its investor liabilities via this significant property transaction.

(With inputs from agencies.)