2017 (11) TMI 443

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..... ted by Mr. Pratap Venugopal, learned counsel appearing for the S.E.B.I. that because of the communication dated 28th September, 2017 made by the respondent-contemnor, the holding of auction has not been fructified. Mr. Datar has taken us through the letter which has been sent by the respondent-contemnor to the Superintendent of Police, Pune Rural, Pune. The few paragraphs of the said communication need to be reproduced. They are:- "Though in business, we have been truly following the spirit of a Pariwar, from our very beginning, in our establishment, in its true spirit, as like our parent Company - i.e. Sahara India Pariwar and have been striving hard during last few years to pay salary to all our karyakartas. Needless to mention, we have .....

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..... e auction of Aamby Valley. The Hon'ble Supreme Court vide its order dated 25th July, 2017 directed the Official Liquidator to take first two steps from the sale of Aamby Valley project and accordingly directed the Official Liquidator to publish the sale notice on 14th August, 2017. The steps required to be taken for the publication of the sale notice was also allowed by the Hon'ble Court and the amount required for publication was directed to be released from SEBI-Sahara Account. Vide its order dated 11th September, 2017, the Hon'ble Supreme Court further directed that the auction of the said property shall be held as per the schedule submitted by the Official Liquidator before the Court. The Official Liquidator was directed to carry out th .....

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..... many are from foreign lands such as U.S.A./Korea/Thailand/Bangaladesh and are resident student accommodated within the city of Aamby Valley City. Due to foreign nationality of students the subject gains international significance and importance." 2. In our considered opinion, the respondent-contemnor could not have entered into correspondence with the Superintendent of Police when this Court had directed for auction of Aamby Valley. 3. It is submitted by Mr. Datar that as a consequence of the communication, the police has taken custody of the property. If it is so, we direct the Director General of Police, Maharashtra, to see to it that the property is handed over to the Official Liquidator within forty-eight hours. The Official Liquidato .....

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