Supreme Court Directs Sahara to Clarify 34 Property Disputes in Adani Sale
India’s Supreme Court has ordered the Sahara Group to respond to a report by court-appointed amicus curiae Gaurav Agarwal, identifying 34 legal claims on properties that Sahara India Commercial Corporation Ltd (SICCL) plans to sell to Adani Properties. The move intensifies scrutiny over the ₹7,100 crore deal, with the court demanding proof that the assets are free from disputes before the sale proceeds.
Why the Sahara-Adani Deal Faces Hurdles
The contested transaction involves three high-value properties in Mumbai, Delhi, and Lucknow, intended to help Sahara repay debts from the ₹24,000 crore Sahara-Sebi case. However, the amicus report reveals:
- Pending lawsuits by parties claiming ownership
- Mortgage conflicts with banks/financial institutions
- Encroachment issues and unpaid tax dues
“We need clarity on whether these properties are encumbrance-free,” the bench of Justices Sanjiv Khanna and Dipankar Datta stated, granting Sahara two weeks to submit its reply.
Key Concerns in the Amicus Report
- Ownership Disputes: Multiple court cases challenge Sahara’s legal rights to sell.
- Financial Liens: Creditors and tax authorities assert unpaid claims.
- Adani’s Risk: The conglomerate may back out if titles remain unclear.
Senior advocate Kapil Sibal, representing Sahara, dismissed many claims as “frivolous,” but the court emphasized thorough verification.
Broader Impact
- Investor Safeguards: Reinforces judicial oversight in high-value asset sales.
- Corporate Transparency: Sets precedents for disputed property transactions.
- Deal’s Future: Adani could exit if legal risks persist; Sahara’s repayment plans hang in balance.
The next hearing will determine whether the sale proceeds or collapses under legal weight.
