New Delhi, Sept. 25 -- In a dramatic development, the Sahara Group has moved the Supreme Court seeking its approval for a mega asset sale to the Adani Group.
Through an application filed under Article 142 of the Constitution, Sahara has asked the Court to exercise its extraordinary powers to clear a consolidated deal under which Adani Properties Pvt. Ltd. would acquire more than 88 of Sahara's most valuable assets across India.
The assets covered in the proposed transaction include Sahara's crown jewels, Aamby Valley City in Maharashtra, a sprawling 8,810-acre township, and Hotel Sahara Star in Mumbai, a landmark hospitality project near the airport.
In addition, the deal includes Sahara Shaher in Lucknow, large land parcels in Noida and...