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SC allows Sahara to sell parcels of Aamby Valley till May 15
New Delhi, April 19 (IANS) The Supreme Court on Thursday allowed the Sahara Group to choose and sell any parcel of its property in its Aamby Valley project in Maharashtra by May 15 and deposit the money in the SEBI-Sahara Refund Account.
A bench of Chief Justice Dipak Misra, Justice Ranjan Gogoi and Justice A.K. Sikri said the Sahara Group has time till May 15 to sell the properties and if it fails, the Bombay High Court’s official liquidator will proceed with the proposed auctioning process to sell the property.
The court posted the matter for further hearing on May 15.
Spread over 8,900 acres, the Aamby Valley property is to be sold by splitting it into saleable parcels of land as there were no takers for the purchase of the entire Valley.
In its report, the official liquidator said the procedure for auctioning the Aamby Valley property has commenced and bids will be invited from May 21 to 31 and the auction will begin from June 2.
Earlier, the top court directed the auction of Aamby Valley to recover money that the Sahara group has to pay to the market regulator Securities and Exchange Board of India (SEBI) for returning investors’ money that its two companies SIRECL and SHICL had raised from investors in 2007 and 2008.
The Sahara India Real Estate Corporation Ltd (SIRECL) and the Sahara Housing Investment Corporation Ltd (SHICL) had raised Rs 24,000 crore through optionally fully convertible debentures in 2007 and 2008.
The top court by its August 31, 2012 order directed Sahara to refund this amount with 15 per cent interest.
The Sahara group has already given a part of the money to SEBI that is parked in the SEBI-Sahara Refund Account.
On August 10, 2017, the apex court declined the plea of Sahara chief Subrata Roy to put on hold the auction of Aamby Valley and allowed the liquidator to go ahead with the auction.
–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.