Sahara Case: Sahara India Commercial Corporation Limited (SICCL) has sought permission from the Supreme Court to sell some of its key immovable and movable assets to Adani Properties Private Limited. This move is considered a significant effort towards recovering long-strapped investors’ money.
The petition filed in the Supreme Court states that the properties sought for sale include Aamby Valley in Maharashtra and Sahara City in Lucknow. The tentative date for hearing the petition is October 14, 2025.
The petition, filed through advocate Gautam Awasthi, states that the proposed transaction will be in accordance with the terms and conditions set out in the term sheet dated September 6, 2025. The petition also states that the Sahara Group and SICCL faced significant difficulty in liquidating their assets. The proceeds raised from these assets have been deposited in the SEBI – Sahara Refund Account.
Of the total original amount of ₹24,030 crore, Sahara Group has so far raised approximately ₹16,000 crore through asset sales. SICCL also clarified that SEBI made several attempts to sell or liquidate Sahara Group’s assets, but was unsuccessful. The amount raised was made possible only through the efforts of SICCL and Sahara Group.
A major step towards returning investors’ money
SICCL has requested the court to approve the sale of 88 properties included in the proposed deal. The company states that this step will help realize fair value for Sahara Group’s assets and ensure the fulfillment of financial obligations in accordance with court orders.
According to experts, if the Supreme Court grants this permission, it will mark a major turning point in the process of recovering pending investor funds and will also be an important step towards resolving Sahara Group’s legal matters.