Supreme Court Deliberates on Sahara Property Sale to Adani

The Supreme Court has sought responses from various stakeholders concerning Sahara India Commercial Corporation Ltd's plea to sell 88 prime properties to Adani Properties. Key ministries are to be involved in the proceedings, and an amicus curiae will assess the properties' status before the next hearing on November 17.

The Supreme Court has issued notices to the Centre, SEBI, and other pertinent parties regarding Sahara India Commercial Corporation Ltd's request to sell 88 major properties to Adani Properties. The special bench is reviewing the ongoing issues tied to the Sahara Group's refund commitments.

Chief Justice B R Gavai and Justices Surya Kant and M M Sundresh have instructed Solicitor General Tushar Mehta. They mandated the involvement of the Finance and Cooperation Ministries, seeking a detailed reply by November 17.

The court has tasked amicus curiae Shekhar Naphade with compiling comprehensive details about the properties involved, determining whether they are disputed or unequivocally owned, before the decision on selling them as a whole or in parts is made.

(With inputs from agencies.)