The Sahara Group has been told to choose any parcel of its properties in the Aamby Valley city project in Maharashtra and sell them by May 15 and deposit the proceeds with SEBI-Sahara refund account.

A special Supreme Court bench headed by Chief Justice Dipak Misra considered the submission of senior advocate Vikas Singh, representing Subrata Roy and the Sahara group, that they be allowed to sell the properties on their own as auctioning would not fetch the desired price, media reports said.

The bench, also comprising Justices Ranjan Gogoi and A K Sikri, initially asked the group to deposit Rs 750 crore by May 15 by selling the properties from one parcel of the Aamby Valley, reported PTI.

However, later the bench said it would not specify the amount in its order. It said if the Sahara Group failed to sell its property by May 15, the Bombay High Court’s official liquidator will proceed with the proposed auctioning process to sell them, the report said.

The court specifically told the Sahara Group that they have time till May 15 to sell the properties by themselves or these would be auctioned., it added