Flix Tuesday, July 14, 2015 - 05:30
The Sahara Group has told the Supreme Court that its media business had been shut down as its employees were deserting the company. The firm’s advocate Kapil Sibal informed the court on Monday that his client’s employees were running away from the media business, and therefore, the firm’s imprisoned chief Subrata Roy would not be able to meet the conditions set by the court for his release from Tihar jail, Business Standard reported. SEBI counsel Arvind Datar, pointed out that Sahara’s Aamby valley property itself was worth around Rs. 47,000 crore. The court presided over the auction of Sahara’s 45 acre land in Gorakhpur, for which there were two bidders – Samriddhi Developers and Gorakhpur Real Estate Developers. the two firms competed with each other and the current amount stands at Rs 150 crore. The court has asked both firms to deposit 25% of the total amount by July 31 in order to show their bona fides.
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