Sahara properties to be auctioned at Rs 722 cr reserve price

June 2, 2016

New Delhi, Jun 2: Tasked by markets regulator Sebi to sell land parcels of Sahara, HDFC Realty will e-auction on July 4 five properties owned by the beleaguered group at a reserve price of Rs 722 crore.

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HDFC Realty has been asked to auction a total of 31 land parcels at Rs 2,400 crore, while SBI Cap has been tasked to auction another 30 land properties with an estimated market value of about Rs 4,100 crore.

The Securities and Exchange Board of India (Sebi) roped in HDFC Realty and SBI Cap after being asked by the Supreme Court to initiate the process of selling Sahara properties whose titles have been deposited with it by the group.

Following a go-ahead from the Court, the two entities have put in place a mechanism to auction these properties.

In a public notice issued today, HDFC Realty said it will e-auction as many as five land parcels on July 4 between 11 am and 12 pm. These properties will fetch around Rs 722 crore at reserve price.

These properties are located in Andhra Pradesh, Tamil Nadu, Madhya Pradesh, Chhattisgarh and Uttar Pradesh. The assets being sold include agricultural non-agri land.

Interested bidder can inspect these land parcels on June 10.

As per the court directions, these properties cannot be sold at less than 90 per cent of circle rates.

After spending two years in jail, Sahara chief Subrata Roy is currently out on parole. He was sent to jail on the orders of the Supreme Court in a long running dispute with Sebi.

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April 23,2024

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Congress workers protested outside the home of Nilesh Kumbhani, the party's candidate from Gujarat's Surat Lok Sabha seat whose nomination form was rejected due to alleged discrepancies, as he was likely to join the BJP, sources said on Tuesday.

The protest came a day after the BJP's Mukesh Dalal was declared the winner from the party stronghold following the withdrawal of all the other eight candidates in the fray.

The sources said that the protesters called Kumbhani a "traitor" and "killer of democracy", adding that he could join the BJP as early as this week.

Kumbhani's nomination form was rejected after he was unable to present even one of his three proposers before Returning Officer Sourabh Pardhi.

The BJP had raised questions about the discrepancies in the signatures of three proposers in his nomination form.

The nomination form of Suresh Padsala, the Congress' substitute candidate from Surat, was also invalidated, pushing the party out of the poll fray in the BJP stronghold.

In his order, Pardhi said the four nomination forms submitted by Kumbhani and Padsala were rejected because at first sight, discrepancies were found in the signatures of the proposers, and they did not appear genuine.

The Lok Sabha elections in the Surat seat was supposed to take place on May 7.

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April 25,2024

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Electronics Corporation of India Ltd and Bharat Electronics Ltd have refused to disclose the names and contact details of the manufacturers and suppliers of various components of EVMs and VVPATs under the RTI Act citing "commercial confidence", according to RTI responses from the PSUs to an activist.

Activist Venkatesh Nayak had filed two identical Right To Information applications with the ECIL and BEL, seeking the details of the manufacturers and suppliers of various components used in the assembling of the electronic voting machines (EVMs) and voter-verifiable paper audit trail (VVPATs).

The VVPAT is an independent vote verification system which enables electors to see whether their votes have been cast correctly.

The ECIL and the BEL, public sector undertakings under the Ministry of Defence, manufacture EVMs and VVPATs for the Election Commission.

Nayak also sought a copy of the purchase orders for the components from both PSUs.

"Information sought is in commercial confidence. Hence details cannot be provided under Section 8(1)(d) of the RTI Act," BEL said in its response.

A similar response was sent by ECIL which said the details requested are related to a product which is being manufactured by ECIL, and third party in nature.

"Disclosing of details will affect the Competitive position of ECIL. Hence, Exemption is claimed under section 8(1) (d) of RTI ACT, 2005," it said.

In response to the purchase order copies, ECIL's central public information officer said the information is "voluminous" which would disproportionately divert the resources of the Public Authority.

"Further, the information will give away the design details of EVM components. The same may pose a danger to the machines produced. Hence, the exemption is claimed U/s 7(9) and under section 8(1)(d) of RTI Act, 2005," ECIL said.

Section 8(1)(d) of the RTI Act exempts from disclosure the information, including commercial confidence, trade secrets or intellectual property, the disclosure of which would harm the competitive position of a third party, unless the competent authority is satisfied that larger public interest warrants the disclosure of such information.

Section 7(9) of the Act says the information shall ordinarily be provided in the form in which it is sought unless it would disproportionately divert the resources of the public authority or would be detrimental to the safety or preservation of the record in question.

"I don't know whose interests they are trying to protect against the right to know of close to a billion-strong electorate. ECIL said that disclosure of the purchase orders will reveal the design details of the components and this may pose a danger to the machines produced. ECIL did not upload even a signed copy of its reply on the RTI Online Portal," Nayak said.

He said it is reasonable to infer that the two companies are not manufacturing every single item of the EVM-VVPAT combo or else the two companies would have replied that they are manufacturing all these components internally without any outsourcing being involved.

"But the electorate is expected to take everything about the voting machines based on what the ECI is claiming in its manuals and FAQs," Nayak said.

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April 26,2024

Palakkad: Three voters from Palakkad, Malappuram and Alappuzha, and a polling agent in Kozhikode died in seperate incidents in Kerala on Friday.

A man collapsed and died after casting his vote at Vani Vilasini in Chunangad, Ottapalam here on Friday. The deceased Chandran (68) hailed from Modernkattil  in Chunangad. Though rushed to the Ottapalam taluk hopsital, he was declared dead on arrival. Palakkad had recorded a high temperature of 40 degree Celsius on Thursday.

A Madrassa teacher, who came home after voting, collapsed and died. The deceased Alikkannakkal Tharakkal Siddhique (63) was the first voter at the polling station in Vallikkanjiram School at Niramaruthur Grama Panchayat in Tirur.

Kakkazham Veiliparambu Somarajan (82), who voted and returned home from the Kakkazham SN VT High School in Alappuzha also collapsed and died. He was a voter from booth 138.

In another instance, a polling agent died after collapsing at a booth in Kuttichira, Kozhikode on Friday. Maliyekkal Anees (66), a retired KSEB engineer from Haluwa Bazaar, was LDF's polling agent at the 16th booth in Kuttichira Government Vocational Higher Secondary School. He collapsed while doing his duty in the polling booth by 8.30 am. Though rushed to the Government General Hospital, he died by 9.15am. He is survived by wife Adakkani Veettil Zereena, childrens  Fayis Ahammed, Fadhil Ahammed, Akhil Ahammed and Bilal Ahammed.

A man also died in bike accident en route to polling booth in Malappuram on Friday. The deceased is Saidu Haji (75) of Neduvan. The bike rammed a lorry near BM School in Parappanangadi.

Polling began at 7am in all 20 Lok Sabha constituencies in Kerala on Friday. 

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