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SC allows liquidator to sell Sahara’s Aamby Valley property in parcels

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New Delhi, Feb 7 (IANS) The Supreme Court on Wednesday allowed the Bombay High Court’s official liquidator to sell the Aamby Valley property of the Sahara group by splitting it into saleable parcels of land, as there were no takers for the purchase of the entire Valley.

The bench of Chief Justice Dipak Misra, Justice Ranjan Gogoi and Justice A.K. Sikri allowed the sale of the township in saleable parcels of land after the counsel appearing for the official liquidator and receiver said that despite advertising twice, it could not get buyers.

Two companies — Mahindra and Piramal Group — had expressed interest in buying the Valley property and were currently carrying out due diligence for the same, the counsel informed the court.

It is, however, not known if the companies want to buy the whole project or a part of it, according to the counsel.

Selling the entire Aamby Valley, spread over 8,900 acres, would be difficult as the project was not attracting buyers for the whole property and the second bidding to sell it had failed, he added.

“Its a huge property… The court may consider to permit us to sell it in parcels. It would be much easier,” the official liquidator told the court.

The international school, golf course, convention centre and hotel could be sold separately to attract more buyers for the project — located in Pune, Maharashtra, the counsel suggested to the court.

Allowing the sale of the property in parcels, which would take two months, the court posted the matter for April 19.

Earlier, the top court had 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 had directed Sahara to refund this amount with 15 per cent interest.

The Sahara group has already given a part of the money to the SEBI that is parked in the SEBI-Sahara Refund Account.

On August 10, the apex court had 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
gt/nir/bg

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Foodman Vishal Singh Honored for Hunger Free World Mission in Bangkok

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Lucknow: Vishal Singh, a renowned social worker from Lucknow, also known as Foodman, has once again made India proud. He was honored by the Happy Hands Gloves Cooperative Limited Company in Korathai, Thailand, for his work with the Hunger Free World Mission.

The Hunger Free World Mission’s meeting was held in Korathai, Thailand, under Vishal Singh’s leadership. Representatives from several countries, including Mr. Raja Dwivedi (Managing Director of Happy Hands Gloves Limited), Thailand Coordinator Mr. Raja Mishra, and member Mr. Varun Singh, attended the event.

Under Vishal Singh’s leadership, the attendees took a pledge to work together toward creating a hunger-free world.

Speaking on the occasion, Vishal Singh explained that the main goal of the Hunger Free World Mission is social participation. He said the mission is not just about feeding people but also about meeting other basic needs of those who are struggling. The mission focuses on helping families of terminally ill patients in hospitals by providing food and shelter. It also works to fulfill essential needs like education, jobs, and care for the elderly.

For the last 16 years, the Vijay Sri Foundation has been providing free services, benefiting thousands of people. Vishal Singh highlighted that the mission aims to gain global recognition like other organizations such as WHO, WWF, and Red Cross, which work for social causes.

During this meeting, Vishal Singh was appointed as the Chairman of the Hunger Free World Mission by representatives from various countries. They also discussed holding regular meetings in different countries to push the mission forward.

Business tycoon Dr. Abhishek Verma has also supported this humanitarian mission, vowing to promote the idea of “Seva Parmo Dharma” (Service is the highest duty) worldwide. Vishal Singh praised him, stating that people like Dr .Abhishek Verma inspire others to work for the betterment of society.

Recently, Romania’s Ambassador, Mr . Daniela Sezonov Ţane, invited Vishal Singh to the Romanian Embassy in Delhi, where they discussed the mission in detail. Impressed by his humanitarian work, she honored Vishal Singh and invited him to Romania to take the mission forward .

Food man Vishal Singh has been serving the people of India for the past 16 years. Through the Vijay Sri Foundation, he provides free meals to cancer patients & their families ,shelter, and education for women & children along with running free old-age homes in Lucknow.

In addition to his humanitarian work, Vishal Singh also addresses issues like crime and corruption through his role as Chairman of Seva Path Media and Managing Director of Vijay Sri Foundation.

During the COVID-19 pandemic, Vishal Singh and his team worked tirelessly to provide food and help to the needy, including starving children, elderly citizens, and pregnant women. Despite contracting the virus himself, he continued to assist others after his recovery. He even created a life-saving oxygen regulator using household items, which was praised by doctors both in India and abroad.

In his address at the meeting, Vishal Singh spoke about his mission to create a hunger-free world. He pointed out that India’s large population, along with issues like unemployment and poverty, has caused the country to fall on the Hunger Index. He urged people to contribute just one handful of grains daily to help create a hunger-free world.

He concluded by saying that through social participation, we can empower the people around us, meet their basic needs, and work together to build a stronger, more prosperous, and developed society.

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