Bombay HC nod for Aamby Valley auction

Mumbai Aug 14: A major setback took place yesterday.
The Bombay High court on Monday has given its nod for the auction of Aamby Valley Sahara Groups prestigious project. The HC has pronounced the order upon the directive of the supreme court.

The panel appointed by Supreme court has estimated the value of the project is Rs 37,392 crore. However the Sahara Group claims it worth is over 1 lakh crore.

Earlier apex court has rejected the company's proposal to repay the investors till July 2019 by citing that the proposed plan of payment is too long.

Earlier the SC on Thursday has ordered the Roy to pay RS 1500 crore by September 7 or else the auction would be conducted as per schedule.

currently, the Aamby Valley specialties are

* Situated amidst the lush green Western Ghats in Pune district.
* Integrated hill-city township called Aamby Valley City Development.
* Spread over 6,761.64 acres.
* Ultra-exclusive chartered city has residential options.
* Timber Chalets.
* Fabulously modern and customized villas.
* Distinct architectural styles.
* Gold course.
* Airport.
* Hospital.
* Adventure sports.
* Retail.
* Entertainment.
* International school.
* Hospitality.