SC orders Auction of Sahara’s Ambey Valley City; Subrata Roy to attend on 27.04.2017

Heard Mr. Sriram Parakkat, learned counsel, who had filed I.A. No.247 of 2017, giving a proposal that MG Capital Holdings LLC, New York, USA, shall purchase the Hotel Plaza by giving 550 million US dollars and to show its bona fide, had agreed to deposit Rs.750 crores with SEBI Sahara Refund Account, but that has not been done. It is submitted by Mr. Sriram that after due diligence, the Company has found that there is difficulty to go with the transaction.The said interlocutory application has been filed by the Power of Attorney Holder, Dr. Prakash Swamy, who is the deponent to the application...