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S.E.B.I. Versus SAHARA INDIA REAL ESTATE CORPN. LTD. AND ORS.

Auction 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 Ven .....

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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 wi .....

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-182/2016, 190-191/2016, 194-195/2016, 205-207/2016, 208/2016, 209-210/2016, 211/2016,212-214/2016, 218-220/2016, 227/2016,231/2016, 232/2016, 239/2016, 240/2016, 241/2016, 242/2016 - Dated:- 17-4-2017 - MR. DIPAK MISRA, MR. RANJAN GOGOI AND MR. A.K. SIKRI, JJ. 243/2016 & 244-246/2016, 247/2017, 251-252, 253-255, 256, 257-259, 260-262/2017, 268-270/2017, 273-274/2017, 280-282/2017 & 284-286/2017 In CONMT.PET.(C) Nos.412 & 413/2012 In C.A. Nos.9813 & 9833/2011 And C.P.(C) No.260/2 .....

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rthak Nayak, Adv., Mr. Tushar Gupta, Adv., Mr. Nikhil Jain, Adv., Mr. Simranjeet Singh, Adv., Ms. Neha Gupta, Adv., Mr. Gautam Talukdar, Adv., Mr. Ram Sajan Yadav, Adv., Mr. Vijay Kumar, Adv., Mr. Vivek K. Tankha, Sr. Adv., Mr. R.V. Prabhat, Adv., Mr. Sachin Pujari, Adv., Mr. Prashant Kumar, AOR Mr. Ramesh Babu M. R., AOR Ms. Swati Setia, Adv., Mrs. Anil Katiyar, AOR Mr. Rakesh Kr. Sharma, AOR Mr. Amit Anand Tiwari, AOR Mr. Yash Pal Dhingra, AOR Mr. P.N. Puri, AOR Mr. Vishwajit Bhattacharya, Sr. .....

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Mr. Vishnu Jain, Adv., Ms. Athira G. Nair, Adv., Mr. Ankur S. Kulkarni, AOR Mr. Anupam Lal Das, AOR Mr. Anish Maheshwari, Adv., Ms. Farha Malik, Adv., Mr. Prashant Choudhary, AOR Mr. Yunus Malik, Adv., Ms. Rajeeta Raj, Adv., Mr. Sanjeev Agarwal, AOR Ms. Meenakshi Arora, Sr. Adv., Mr. Mursh Jani, Adv., Ms. Monisha Handa, Adv., Mr. Mohit D. Ram, AOR Mr. B.S. Banthia, Adv., Mr. Sachin Daga, Adv., Ms. Vidhi Goel, Adv., Ms. B. Vijayalakshmi Menon, Adv., Mr. Balbir Singh, Sr. Adv., Mr. Rabin Majumder, .....

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ow its bona fide, had agreed to deposit ₹ 750 crores with SEBI Sahara Refund Account, but that has not been done. It is submitted by Mr. Sriram that after due diligence, the Company has found that there is difficulty to go with the transaction. The said interlocutory application has been filed by the Power of Attorney Holder, Dr. Prakash Swamy, who is the deponent to the application. As an affidavit of this nature was filed before this Court, we would like Mr. Rana Mukherjee, learned senio .....

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d be deposited within ten days hence, failing which this Court may issue non-bailable warrants of arrest against Dr. Prakash Swamy. Dr. Prakash Swamy, who belongs to Chennai, shall deposit his passport before the Regional Passport Officer, Chennai, Sastri Bhawan, by tomorrow i.e. 18th April, 2017. Mr. Sriram Parakkat, learned counsel shall hand over the address and the passport number of Dr. Prakash Swamy to Mr. Rana Mukherjee, learned senior counsel in the course of the day. Let a copy of the o .....

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or 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. Dat .....

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