Aamby Valley sealed, reopened after Sahara Group pays tax dues

MUMBAI: The local revenue authorities today sealed the crippled Sahara Group's gated township Aamby Valley City near Lonavala in Maharashtra for non-payment of non-agricultural tax but it was reopened later in the day after the group made a payment of Rs 2.53 crore by cheque.

In a statement, chief executive of Aamby Valley Vivek Kumar said the group paid the amount following sealing of the over 10,000-acre gated township for non-payment of NA tax of Rs 27 lakh pending since last March.

Tehsildar at Mulshi in Pune district had initiated the action.

The township had an outstanding amount of Rs 27,27,740 of taxes to be paid and another Rs 2,26,13,870 in annual taxes for 2015-16 (payable by the end of fiscal) which was paid by cheque today, Kumar said.

"In a way, it was an illegal closure of the gate by the revenue authorities and can be attributed as their high-handed approach," he said, claiming that the company is valued at over Rs 1 trillion.

The township which is over 100 km from Mumbai houses a small airstrip and a golf course for its residents which include cricketers, film stars and some top politicians.

Sahara Group chairman Subrata Roy is in Tihar Jail since May 2014 for not abiding by a Supreme Court order to return deposits of over Rs 26,000 crore to millions of retail investors, collected in violation of Sebi norms.