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2017 (4) TMI 932 - SC - Companies LawAuction notice - deposit with SEBI Sahara Refund Account not been done - Held that:- As no amount has been deposited by the contemnor, we are inclined to go ahead with auction for the Aamby Valley City near Lonavala, Maharashtra. It is submitted by Mr. Shekhar Naphade, learned Amicus Curiae assisting the Court in the matter that the Official Liquidator of the Bombay High Court may be appointed to conduct the sale. Mr. Arvind P. Datar, learned senior counsel being assisted by Mr. Pratap Venugopal, learned counsel appearing for the SEBI shall provide the necessary details of the said property to the Official Liquidator, who with his team, shall make the valuation and proceed with the auction. Learned counsel appearing for the contemnor shall provide all the necessary details of the property also to the Official Liquidator within forty-eight hours. If the Official Liquidator requires some amount, which is reasonable, as agreed to by Mr. Datar, he can make a requisition for the same, and the same shall be paid from the SEBI Sahara Refund Account. Mr. Pratap Venugopal, learned counsel assisting Mr. Datar shall forward this order to the Official Liquidator of the Bombay High Court and also all the details that of the Aamby Valley City near Lonavala, as submitted by the contemnor to this Court, so that the Official Liquidator can verify from the contemnor and, thereafter, proceed in accordance with law. If the contemnor, as directed herein-above, gives the necessary details within forty-eight hours from the date of information, the Official Liquidator shall report to this Court directly. Let the matter be listed at 2 p.m. on 27th April, 2017, on which day, the contemnor, Mr. Subrata Roy Sahara, shall remain personally present before this Court. Dr. Prakash Swamy, who has filed the affidavit in I.A. No.247 of 2017, shall also remain personally present at 2 p.m. on 27th April, 2017 before this Court.
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