- (1.) On a perusal of the latest Report submitted by the Court Receiver as well as the Official Liquidator, the High Court of Bombay, it is noticeable that the properties situated in Aamby Valley City are not in a position to be auctioned because there has been no response with regard to the notice inviting tender.
(2.) At this juncture, Mr. Vikas Singh, learned senior counsel appearing for the respondent-contemnor submitted that it has entered into negotiation with M/s. Sai Rydam Realtors Pvt. Ltd. and M/s. Prime Downtown Estates Pvt. Ltd. Mr. Paras Kuhad, learned senior counsel represents the said companies.
(3.) In the course of hearing it has been accepted by Mr. Kuhad that a Demand Draft amounting to Rs.99 crores has been handed over to Mr. Pratap Venugopal, learned counsel assisting Mr. Arvind P. Datar, learned senior counsel appearing for SEBI. Be it noted, the agreed amount is Rs.982.80 crores. He further submits that a sum of Rs.200 crores shall be deposited in the SEBI-Sahara Refund Account on or before 24.07.2018 and another sum of Rs.200 crores shall be deposited on or before 16.08.2018. The balance amount shall be deposited on or before 12.09.2018. Needless to say, the TDS and other applicable taxes can be deducted as per rules.;