Sahara India Real Estate Corp.Ltd.& Ors vs Securities & Exch.Board Of India & Anr

The Supreme Court dismissed I.As. No. 8-9 in Contempt Petitions (C) No. 412 and 413 of 2012, while allowing I.As. No. 10-12 in the same petitions, permitting the transfer, sale, or encumbrance of three offshore hotel properties owned by Sahara, contingent upon the deposit of sale proceeds with SEBI as per the conditional bail order dated 26.3.2014. The Court mandated that the sale price must not be less than the estimated value by CBRE and JLL, reduced by a maximum of 5%. The judgment emphasizes compliance with prior orders and the protection of investor interests under the SEBI regulations.