Supreme Court Considers Sahara's Bid to Sell 88 Properties to Adani

The Supreme Court is reviewing a plea by Sahara India Commercial Corporation Ltd to sell its 88 properties to Adani Properties Pvt Ltd. The sale aims to address Sahara's refund obligations. The court seeks inputs from SEBI, Ministry of Finance, and other stakeholders to resolve property disputes and determine sale conditions.

The Supreme Court has sought responses from the Centre, SEBI, and other parties regarding Sahara India Commercial Corporation Ltd's request to sell 88 properties to Adani Properties Pvt Ltd.

During a hearing, a special bench addressed the ongoing Sahara Group refund obligations and instructed that Union ministries of Finance and Cooperation join the proceedings. Submissions are due by November 17.

Amicus curiae and senior advocate Shekhar Naphade was tasked with collecting details about the proposed sale and any disputes over the properties. Further discussions will determine whether properties should be sold individually or as a package.

(With inputs from agencies.)