SC seeks details of Sahara shareholders, properties

The Supreme Court on Wednesday asked Sahara Group to submit details of its existing shareholders and top officials along with a list of "unencumbered properties" that can be sold to raise the balance ₹10,000 crore to refund 33 million small investors.

The top court also asked the group to furnish a list of properties that have been sold already and details of the agreement by which it transferred a part (related to villas) of its luxurious 8,900-acre Aamby Valley City project to a third party.

The group had valued its flagship property in the hill station of Lonavala in Maharashtra at ₹34,000 crore in January 2012.


The court sought the list of current shareholders and officials/directors as the group founder and former chief Subrata Roy passed away in November last year.

A bench of Justices Sanjiv Khanna, M M Sundresh and Bela M Trivedi during the hearing said it has to "find a middle ground" to get money to refund investors as the issue is pending for over a decade.

"This matter cannot go on and on. It has been more than 10 years since the court directed for a deposit of ₹25,000 crore," it said. "We have to find some practical solution to make a headway as the company has only deposited around ₹15,000 crore till now."