Supreme Court orders Sahara to deposit Rs 1,000 cr

06 Sep 2024 CW Team

The Supreme Court has directed the Sahara Group to deposit Rs 1,000 crore as part of its ongoing financial obligations. This order is a significant development in the long-standing legal proceedings involving the group. Additionally, the court has granted approval for a joint venture (JV) to proceed with the development of a prominent piece of land in Mumbai owned by Sahara.

The JV will focus on transforming the site into a major real estate project, which is expected to boost the local economy and create numerous job opportunities. The ruling underscores the court?s commitment to ensuring compliance with financial directives and facilitating progress in major development projects.

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