Aamby Valley auction process begins at Rs37k cr reserve price

TIL Desk/Business/Mumbai/A Supreme Court ordered auction process began today for Aamby Valley resort town of embattled Sahara group at a reserve price of Rs 37,392 crore.

The official liquidator of the Bombay High Court published an auction notice today inviting prospective bidders for the integrated hill city township spread over 6,761.6 acres near Lonavala, located between Mumbai and Pune.

A Mauritius-based investor, Royale Partners Investment Fund, last week said it has offered to invest USD 1.67 billion (over Rs 10,700 crore) in Sahara group’s Aamby Valley project. Sahara group pegs the market valuation of this project at over Rs 1 lakh crore.

Replying to emailed queries about its proposed deal with Sahara group, RPMG Investment told, “As deposed by Sahara before the Supreme Court of India, Royale Partners Investment Fund Ltd and its Limited Partners have agreed to invest USD 1.67 billion in the Aamby Valley Project”.