The Supreme Court on Thursday took strong objection to Sahara Group allegedly obstructing the auction of Aamby Valley and warned that anybody trying to impede it in future would be held guilty of contempt and sent to jail.
Market regulator Securities and Exchange Board of India (SEBI) had moved a contempt plea against Sahara, claiming that the group obstructed the auction by writing a letter to Pune’s SP (Rural) raising the issue of law and order at the prime property.
A three-judge Special Bench led by Dipak Misra was informed by SEBI counsel and senior advocate Arvind Datar that because of this communication dated September 28, the police had taken over the property, following which the auction could not happen.
“There was not a single bidder. The auction period is over,” Mr. Datar submitted.
The court directed the Maharashtra DGP to ensure that the possession of the property was returned to the Supreme Court’s Official Liquidator in the next 48 hours. The Liquidator shall then proceed with the auction under the direct supervision of the Company Judge.
The court directed the Liquidator to take the guidance of Justice A.S. Oka, a judge of the Bombay High Court, in the matter. It did not deem it necessary to hear senior advocate Mukul Rohatgi, for Sahara, saying “You should not have written that communication to the police.”
“I have done nothing malafide. I have co-operated. False statements are made about me. Your Lordships should at least hear me,” Mr. Rohatgi urged.
The apex court however clarified that it was not initiating any contempt action at this stage.
In its plea, the SEBI had alleged “wilful and deliberate attempt” on Sahara’s part “by adopting a subterfuge to cause interference with the administration of justice, especially in a court directed and monitored auction sale of the Aamby Valley property under various orders of the apex court”.
On August 10, the apex court had rejected Sahara chief Subrata Roy’s plea to put on hold the auction process.
