The Supreme Court in February had allowed the Sahara's project Aamby Valley to be split it into small parcels of land as there were no takers for the purchase of entire township. The order was issued after the liquidator, the Bombay High Court, made a submission before the top court that the entire landmass of Aamby Valley failed to draw any takers despite ample publicity of the intent to sell it via two advertisements published in 142 dailies.
Spread over 8,900 acres, Aamby Valley is Sahara's flagship project comprising luxury resorts and an airport and valued at around Rs 38,000 crore.
Markets regulator Securities and Exchange Board of India (SEBI) said that the Sahara Group owes Rs. 11,569 crore to investors, a claim which the group disputes. The Sahara Group told the top court that only Rs. 4, 657 crore is the outstanding amount.