The Supreme Court will take up the Sahara-SEBI case for hearing on Thursday.
The SEBI cited the matter before a bench headed by Justice Ranjan Gogoi for urgent hearing, saying the auction process was to kick-start from October 10th but Sahara Group has been "obstructing" it by allegedly suspending day-to-day activities.
Last month, the Securities and Exchange Board of India (SEBI) had approached the Apex Court claiming that the Sahara Group was allegedly obstructing the process of auctioning its Aamby Valley property in Pune, which was initiated on court's direction. The SEBI had sought contempt proceedings against the Sahara Group.
The Supreme Court had taken strong exception to the Sahara Group allegedly obstructing the auctioning process of Aamby Valley and warned that anybody creating impediments would be liable for contempt and may be "sent to jail".
The apex court was irked when SEBI claimed that the group had allegedly obstructed the auctioning process by writing a letter to the Pune police raising the issue of law and order at the prime property. (With PTI inputs)