In Brief
The Supreme Court issued stringent directions in ongoing proceedings against Sahara India Real Estate Corporation. The Court directed Dr. Prakash Swamy, a Power of Attorney Holder, to deposit ₹10 crores as penalty forfeited towards costs within ten days, failing which non-bailable arrest warrants would be issued. His passport was ordered to be deposited with the Regional Passport Officer, and the Union of India was directed to prevent his departure and issue a Red Corner Notice. The Court appointed the Official Liquidator of Bombay High Court to value and conduct auction of the Aamby Valley City property. The interim bail order was to remain in force until April 27, 2017, when the Court indicated it might reconsider and commit the contemnor to custody."
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