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Supreme Court Seeks Centre, SEBI Replies on Sahara’s Plan to Sell 88 Assets to Adani

The court set a November 17 response deadline, tasking an amicus to map disputed titles before deciding on a bulk or piecemeal sale.

Overview

  • Union Finance and Cooperation ministries were impleaded as parties, with their written replies requested by November 17.
  • Amicus curiae Shekhar Naphade will compile a chart classifying the 88 properties as clear, disputed or uncertain, and rights claimants have been asked to submit details.
  • SEBI told the bench any transaction should not be priced below 90% of market value.
  • Counsel for Adani Properties said the company is prepared to acquire the entire portfolio despite pending claims to avoid prolonged litigation.
  • The bench directed Sahara to examine unpaid employee salary claims, noting about ₹16,000 crore deposited against a principal liability exceeding ₹24,000 crore.