In Brief
SEBI sought to enforce the Supreme Court's auction order for Aamby Valley property, a major real estate project. The respondent Sahara submitted a letter to police citing business hardship and security concerns, which obstructed the auction process. The Court held that this correspondence constituted contempt of court. It directed handover of the property to the Official Liquidator and authorized joint supervision by the Company Judge and a High Court Judge. A Receiver was appointed to prevent encroachment and maintain the property's value during auction. The Court warned that any further impediment would result in contempt charges and imprisonment."
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