Senior advocate Vikas Singh, representing Sahara chief Subrata Roy and the group, told the court that they have failed to sell a parcel of the Aamby Valley for depositing the money.
A Supreme Court bench led by Chief Justice of India Dipak Misra had given a go ahead to the auction proceedings for Sahara group's super luxurious Aamby Valley resort town following the failure of Sahara chief Subrata Roy to deposit substantial amount of money towards refunding investors.
The Official Liquidator (OL) for the Aamby Valley City in Lonavala has put up a reserve price of Rs 37,392 crore, as part of efforts to partially recover the pending dues to various lenders.
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