Sahara Case - Rejected Bail

8/12/2019 Sahara Case - Rejected Bail

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REPORTABLE

IN THE SUPREME COURT OF INDIA

CIVIL ORIGINAL JURISDICTION

I.A. NOS. 8-9 & 10-12 OF 2014IN

CONTEMPT PETITION (C) NO.412 OF 2012IN

CIVIL APPEAL NO. 981 OF 2011

S.E.!.I. "A##$%%'

V$*+*

S, I' R$% E*$ C/#//' L.& O*. "R$*#/'$'*

ITH

I.A. NOS. 8-9 & 10-12 OF 2014

INCONTEMPT PETITION (C) NO.41 OF 2012

INCIVIL APPEAL NO. 98 OF 2011

AND

I.A. NOS. 10-12 OF 2014

INCONTEMPT PETITION (C) NO.20 OF 201

INCIVIL APPEAL NO. 84 OF 2012

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J U D G M E N T

T.S. Thakur, J.

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&ur attention was also drawn to the "aluationreports in re!ard to the three properties mentionedearlier. 't was ur!ed that the said "aluation reportsha"e been prepared b reputed "aluers at the in-

stance of the Bank of China in connection with theloan transactions as a part of on-!oin! annual e$er-cise undertaken b the lendin! Bank. 'f that be so,Saharas would do well to obtain a confirmation fromthe Bank of China to the effect that the "aluationreports prepared in respect of the three propertiesmentioned abo"e b CB() and *++, ha"e been pre-

pared at the instance of the Bank of China and thatthe said "aluation reports ha"e been accepted bthe Bank to be correct. his could lend re-assurance

to the Court that the "aluestakes held b Saharasin these properties are sou!ht to be transferred onthe basis of the true market "alue of the said as-sets. eedful shall be done e$peditiousl, but notlater than one week from toda./

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/*B

2) Amounts outstanding under the Sahara Group

Loans as at 02 June 201

0. 0mounts outstandin! under the Sahara 1roup +oans as at23 *une 3245 are6

As at 02 June201

G!! Loan P"a#a$%ream Loan

+oanoutstandin!balance

7389,:;2,222.2 2>.22

0ccrued 'nterest 798;,5?9.32 ?.?:

@repament Aee 73,89:,;22.22 =8,;55,83?.2:

+ibor Breaka!eCosts

0ppro$imatel744,8:>,4?, finalamount to be

confirmed at theprepament date

0ppro$imatel79,:52.9?, finalamount to be

confirmed at theprepament date

+e!al Aees 0ppro$imatel74;,222 finalamount to beconfirmed at theprepament date

0ppro$imatel74;,222, finalamount to beconfirmed at theprepament date

@lease note that the e$act amounts re%uired to prepa theSahara 1roup +oans will depend on when the prepamentis made. hilst the abo"e numbers are accurate as at 3

*une 3245 )$cept that the +ibor Breaka!e Costs and+e!al fees are estimates, the are subject to chan!e./

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Latest &a"uation reports prepared pursuantto the Sahara Group "oans

he followin! Ealuation reports were instructed andaccepted b Aacilit 0!ent for loan securit

purposes6

@laFa #otel Ealuation (eport prepared bCB() dated 3: &ct 324> with the GarketEalue of withthe Garket Ealue of


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Sahara Case - Rejected Bail

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