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No bidders for Sahara’s Aamby Valley, auction has failed, SC told
New Delhi, July 12 (IANS) The Supreme Court on Thursday was told that the auction of Sahara group’s flagship project Aamby Valley in Maharashtra has failed as there were no bidders in response to the notice inviting tenders.
The Bombay High Court’s official liquidator in his report told the bench comprising Chief Justice Dipak Misra, Justice Ranjan Gogoi and Justice A.K.Sikri that there were no bidders in pursuance to its notice inviting bids.
With the auction of Sahara’s Aambay valley off the table, the court on Thursday discharged Bombay High Court’s official liquidator who was asked to sell the Aamby valley.
The top court had on April 16, 2017, asked the official liquidator to evaluate and auction the Aamby Valley property of the Sahara group to recover the money it has to pay to market regulator Sebi for returning to the investors from whom two group companies had raised it in 2007 and 2008.
Meanwhile, the court on Thursday permitted Sahara to sell its Vasai property to Sai Rydam and Prime Downtown Real Estate Developers for Rs 982.80 crore.
As the counsel appearing for Sai Rydam and Prime Downtown Real Estate Developers handed over a cheque of Rs 100 crore to the counsel for Sebi, the court directed the firm to deposit Rs 200 crore by July 24, another Rs 200 crore by August 15 and the balance amount by September 12 as it fixed next date of hearing on September 13.
Senior counsel Vikas Singh who appeared for Sahara informed the court that one of the two hotels in New York has been sold and the proceeds from its sale have gone to Bank of China towards the payment of loan taken from it for purchasing the two hotels.
The court then directed that all the details of the sale of the hotel including payments made to Bank of China would be filed before the court in an affidavit. It also asked Sahara to tell on what basis the hotel was sold.
As Sahara chief Subrata Roy urged the court that he may be allowed to do the business, the court said: “Let this money come, then we will have sympathy for you.”
Sahara companies’ Sahara India Real Estate Corporation Ltd (SIRECL) and Sahara Housing Investment Corporation Ltd (SHICL) had raised Rs 24,000 crore through optionally fully convertible debentures.
The top court, by its August 31, 2012, order directed Sahara to refund this amount along with 15 per cent interest.
The 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 had declined the plea of 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.