Impediments in Aamby valley auction would invite contempt, jail: SC

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The court said that the liquidator would act under the guidance of the Company Law Board judge and Justice Abhay Oak of the Bombay High Court.

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As senior counsel Mukul Rohatgi, appearing for Sahara chief Subrata Roy told the court that the “completely wrong statements were being made by Sebi to prejudice the court”, the court dismissed his arguments.

“Our order has been violated. We don’t want to hear you today. We want to have auction,” it said, after senior counsel Arvind Datar, appearing for marker regulator Sebi, told the court that because of September 28 communication by Sahara, the auction has stopped.

Asking Datar that auctioning has been stalled because of Sahara communication, the court said: “We will appoint the official liquidator as receiver and under the high court judge, he will proceed with the auction.”

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