SC to Hear Sahara Plea on Asset Sale to Adani Properties After Six Weeks

The Supreme Court of India on Monday deferred, for six weeks, the hearing on a plea filed by Sahara India Commercial Corporation Ltd (SICCL) seeking approval to sell its nationwide assets to Adani Properties Private Limited. The deferment came after the Central Government requested additional time to file its response on the matter.

Sahara has placed a proposal before the apex court to sell 88 properties across the country, including its flagship project — the 8,810-acre Aamby Valley City in Maharashtra, one of the largest privately developed townships in India. The group maintains that the sale proceeds will be channelled toward repaying investors awaiting refunds under the long-standing regulatory dispute involving Sahara and SEBI.

The Supreme Court, acknowledging the Centre’s request, stated that it would take up the matter after six weeks, giving the government sufficient time to examine the proposal and file detailed submissions. The bench has indicated that a decision will be taken only after reviewing the government’s stance and ensuring that investor interests remain protected.

Sahara, once a major conglomerate with significant real estate, financial, and hospitality ventures, has been engaged in legal and financial challenges for over a decade. The court-monitored repayment process has required the group to explore multiple avenues to raise funds, with the sale of large-scale assets seen as a key component of its repayment strategy.

The proposed inclusion of Adani Properties as the buyer has attracted considerable attention, given the size and strategic location of the assets involved. Aamby Valley alone represents a massive valuation opportunity, encompassing residential, commercial, and recreational developments spread over thousands of acres.

With the Supreme Court now scheduling a hearing after six weeks, all eyes are on the Centre’s response and the court’s next steps, which will determine the future of Sahara’s asset liquidation plan and its long-standing obligation to refund investors.