On Tuesday (October 14, 2025), the Supreme Court was looking for the reaction of the Center, the Indian Securities and Exchange Council (SEBI) and other parties to the Sahara India Commercial Corporation LTD (SICCL), which sought permission to sell several of its real estate for Adani Properties.
A special bench composed of the main judge of India Bravai and Justices Surya Kant and MM Sundresh also ordered that the Ministries of Finance and the Cooperation of the Union be promoted as contractual proceedings according to the proposal of the General Legal Statement of Tushar Mehta.
“… The central government may also have to explore and give your thoughts before court. Please consider implementing the secretaries of ministries. We can also introduce our picture,” Mr. Mehta said.
Accepting the proposal, the bench recorded in its order: “The lawyer says that it will be appropriate for the Union to be heard before considering the prayer.
The court also ordered the leader of the defending champion SHEKHAR Naphade, who was appointed as Amicus Curiae to collect details of 88 real estate sold to the SicCl group Adani and record the response of the parties regarding the nature of these properties, including whether they are exempted from a dispute or subject to claim.
“Before taking into account the application, it will be appropriate that parties claiming that they have rights in any of the real estate listed in the request can submit their claims to Amicus Curiae.
During the hearing, he said that the head of Mukul Rohatgi, who appeared for Adani Properties, said that the company was willing to acquire the entire portfolio, despite the waiting demands in an effort to prevent a long -term court dispute. The real estate listed in the pleas of SicCl includes Aamby Valley City and Hotel Sahara Star in Mahari, Sahara Shahar and Sahara Ganj in Lucknow and other ground assets extended across several countries.
Senior Advocate Arvind Datar, which appeared for Sebi, said that SicCl could continue with sale, provided that the consideration was not less than 90% of the market value. Mr. Naphade pointed out that SicCl still owed approximately 9,000 GBP Crore to the refund account Refund Sebi – Sahara and suggested that this amount should be stored first.
While some parties raised demands on certain properties, the higher advocates of Kapil Sibal, who appeared for SicCl, said that previous attempts to destroy the activation were universe to attract buyers. He claimed that consolidated sales would probably attract serious applicants and help create sufficient funds to fulfill SICCL obligations for investors.
The bench also ordered SicCl to explore the demands of workers who were not paid their salaries for several years and published this matter to another hearing on November 17th.
The Sahara Group, which faced proceedings before the Supreme Court for repayment of investors, has so far entered around 16,000 GBP Crore on the Sibi – Sahara Refund account, over the main responsibility of more than 24,000 GBP. In September the court allowed a paycheck of 5,000 GBP crore from Ref
In its application, SicCl said that despite multiple attempts to SEBI to liquidate Sahara asset, even through renowned properties and consultants, no sale was filled. “The entire funds deposited in the Sebi – Sahara account were stored by the only efforts and the SicCl and the Sahara Group,” he said.
The Company stated that the decision on the sale of its assets was taken “in the interest of all parties, including investors,” to ensure that their claims were quickly satisfied.
After the demise of the founder of Sahara Group Subrata Roy in November 2023, the family members were obliged to protect the interests of investors and close into long -term proceedings.
“The Sahara Group has decided that the Sahara Group’s assets will be liquidated with the maximum value and in a quick manner to fulfill the orders taken by the Supreme Court to release the Sahara’s obligations and approach the submission,” she said.
Published – October 14, 2025 20:20
