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SC seeks Centre, SEBI’s responses on Sahara’s plea to sell properties to Adani

The court asked the Centre, SEBI, and the amicus to respond to Sahara’s pleas. In addition, the Sahara Group has been directed to examine pending claims of workers who have not received salaries for several years

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The Sahara Group has been directed to examine pending claims of workers who have not received salaries for several years. File pic

The Sahara Group has been directed to examine pending claims of workers who have not received salaries for several years. File pic

The Supreme Court on Tuesday sought responses from the Centre, the Securities and Exchange Board of India (SEBI), and other stakeholders on a plea by Sahara India Commercial Corporation Ltd (SICCL) seeking permission to sell 88 prime properties to Adani Properties Private Limited, news agency PTI reported.

A special bench comprising Chief Justice BR Gavai and Justices Surya Kant and MM Sundresh heard the interlocutory application (IA) filed by SICCL in connection with the long-pending Sahara Group refund cases. The plea is part of ongoing legal proceedings related to the Sahara Group’s obligations to refund investors, which have been under judicial scrutiny for years.

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