Sahara Firm Seeks Supreme Court Approval to Sell Properties to Adani Properties

As per the news reports, Sahara India Commercial Corporation Ltd (SICCL) has moved the Supreme Court seeking permission to sell a set of properties, including Amby Valley in Maharashtra and Sahara Saher in Lucknow, to Adani Properties Private Limited. 

The plea, filed through advocate Gautam Awasthi, is listed for hearing on October 14, 2025. Reports suggest that the proposed sale is based on a term sheet signed between the two parties on September 6, 2025.

Repayment Obligations

According to the application, the Sahara Group has been working to repay investors through deposits in the SEBI-Sahara Refund Account. Out of a total principal liability of ₹24,030 crore, the group has managed to realise about ₹16,000 crore by liquidating movable and immovable assets. These funds have been deposited in the refund account.

Role of SEBI and Asset Sales

The plea pointed out that SEBI, despite appointing leading real estate brokers, had not been able to sell Sahara assets. In contrast, the deposits so far were achieved directly through Sahara and SICCL’s efforts. The group argued that the sale to Adani Properties would help raise the remaining funds needed to meet investor claims.

After Subrata Roy’s Death

The Sahara Group noted that following the death of its founder, Subrata Roy, in November 2023, the organisation lost its key decision-maker. While family members were not involved in daily operations, they expressed the intention to continue asset sales to protect investor interests and settle outstanding liabilities.

Scope of Proposed Transaction

The application seeks court approval to sell 88 properties to Adani Properties. It said earlier attempts to sell assets faced hurdles such as weak market conditions, regulatory investigations, litigation, and unauthorised dealings by individuals relying on outdated board approvals.

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Conclusion

If the court allows the deal, the sale would mark one of the largest transfers of Sahara assets. It could enable faster repayment to investors and bring progress in closing pending cases.

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