In Brief
In this interlocutory application, MG Capital Holdings LLC sought permission to conduct due diligence on the Plaza Hotel in New York, with an intended offer of 550 million US dollars for Sahara's stake. The Court permitted the due diligence subject to a condition that the applicant deposit Rs 750 crores with the Court Registry by 17 April 2017, emphasizing that financial preparedness is necessary when third parties seek to participate in transactions involving assets under contempt proceedings. The Court also directed verification of the purchaser company's credentials through senior counsel."/> </invoke>
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