Pertaining to the
today’s hearing of Sahara SEBI case there are few points on which we would like
to request you to kindly clarify to your esteemed readers/audience
1.
Hon'ble Supreme Court has directed
to prepare and submit a plan of the sale of 86 properties of Sahara of which
title deeds are already submitted by Sahara. We would also like to clarify
that order is not on the other properties of Sahara and neither these 86
properties includes the foreign properties of Sahara nor Aamby Valley City nor
Sahara Star hotel.
2.
Hon’ble Supreme Court directed SEBI
that in process of selling properties it has to take inputs and consultation
with Sahara.
3.
Meanwhile, today, Sahara has
completed the payment of Rs. 5,000 Cr cash component and only Rs. 5,000 Cr bank
guarantee component is left. Senior counsel of Sahara, Mr. Kapil Sibal has
submitted that since the worth of Sahara’s 86 properties whose original
documents are with SEBI for long, is of worth of more than Rs. 40,000 crores
and is more than Rs. 5,000 crores of the required Bank Guarantee. The SEBI to get the properties valued and if the admitted
valuation is more than Rs. 5000 crore and was contended by Sahara that it
should be treated as security and Mr. Subrata Roy Sahara and two Sahara
directors be released. To this Hon’ble Court has directed SEBI to
work on this proposition
Gautam Awasthi, Advocate
Counsel for Sahara
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