Adani Group Backs Sahara Plea to Sell 88 Properties Including Aamby Valley

On October 13, 2025, the Adani Group reportedly filed a plea in the Supreme Court backing Sahara India Commercial Corporation Limited (SICCL) in its petition seeking approval to sell 88 properties, as per the news reports.

The proposed sale includes iconic assets such as Aamby Valley in Maharashtra and Sahara Saher in Lucknow, with most properties planned to be acquired by Adani Properties Pvt Ltd. A term sheet outlining the sale conditions has been submitted to the apex court in a sealed cover.

Background of Sahara’s Plea

SICCL stated that the Sahara Group lost its principal decision maker following the death of Subrata Roy in 2023. The plea highlights the challenges faced in liquidating assets despite SEBI engaging reputed estate brokerage firms. SICCL claims that deposits in the SEBI-Sahara Refund Account have been realised solely through the efforts of the Sahara Group and SICCL.

Supreme Court Hearing Scheduled

The Supreme Court is set to hear Sahara’s plea on October 14, 2025. Chief Justice B.R. Gavai indicated that a special three-judge bench will be constituted for the hearing. SICCL emphasises that the sale of these properties is critical to satisfy stakeholder claims and comply with Supreme Court orders, including resolving ongoing contempt proceedings against the Sahara Group.

Read More: Adani Group to Invest ₹30,000 Crore for Further Navi Mumbai Airport Expansion

Financial Context and Asset Liquidation

Out of a total principal amount of ₹24,030 crore, approximately ₹16,000 crore has already been realised through asset sales or liquidation and deposited into the SEBI-Sahara Refund Account. SICCL argues that selling the remaining properties will maximise asset value, expedite liquidation, and efficiently address investor and stakeholder claims. The proposed transaction aims to conclude pending legal obligations while preserving the interests of affected parties.

Term Sheet and Legal Representation

The term sheet for the sale, dated September 6, 2025, details the conditions of the proposed acquisition by Adani Properties Pvt Ltd. SICCL’s application to the Supreme Court was submitted through advocate Gautam Awasthi. The move underscores a coordinated approach between Sahara and Adani to ensure a smooth and compliant asset transfer.

Conclusion

The Supreme Court hearing on October 14, 2025, will determine whether Sahara can proceed with the sale of 88 properties, supported by the Adani Group. The transaction is viewed as a crucial step in asset liquidation, stakeholder settlement, and closure of ongoing legal matters, potentially reshaping the ownership of major real estate assets like Aamby Valley.

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