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14
August 2017
 |
| Sahara Group (The Total Investment & Insurance Solutions |
In
a major setback to the Subrata Roy-owned Sahara Group, the Bombay High Court on
Monday put up its prestigious Aamby Valley property in Maharashtra for a public
auction.
The
Official Liquidator (OL) for the Aamby Valley City in Lonavala has put up a
reserve price of Rs 37,392 crore, as part of efforts to partially recover the pending
dues to various lenders.
The
development came three days after the Supreme Court declined to entertain the
Sahara Group's plea to postpone auction of the prime hill station property
nestled in the lush green Western Ghats in Pune district. The Total Investment & Insurance Solutions
Bombay
High Court OL Vinod Sharma issued notices in prominent media on Monday for the
public auction of "sale/lease" on an
"as-is-where-is-whatever-there is' of the Aamby Valley City, around 90 km
from here. The Total Investment & Insurance
Solutions
In
view of the huge quantum of properties to be disposed, the auction would be
conducted in two phases spread over two days, the OL said. The Total Investment & Insurance Solutions
The
property comprises an integrated hill-city township called Aamby Valley City
Development, which was the first of its kind Megalopolis, spread over 6,761.64
acres, land measuring 1,409.87 acres surrounding this project and another
321.66 acres within adjoining Satara district.
Describing
the property for the prospective bidders, the OL said it is situated over a
verdant expanse, nested amidst the picturesque environs of the great Sahyadri
Mountain range.
"The
ultra-exclusive chartered city has residential options ranging from the Timber
Chalets to fabulously modern and customized villas in distinct architectural
styles and several amenities such as gold course, airport, hospital, adventure
sports, retail, entertainment, international school and hospitality," the
OL's auction notice said.The Total
Investment & Insurance Solutions
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