Sahara Group seeks Supreme Court nod to sell 88 properties to Adani

The Sahara Group has sought the Supreme Court’s consent to sell its 88 properties including the iconic Aamby Valley to the Sahara Star Hotel to Adani Properties Private Limited, in what could become one of the largest consolidated real estate transfers in India, according to reports. The deal marks a new chapter for the once-mighty empire built by Subrata Roy and potentially bring a decade-long saga to a closure.

All proceeds from the transaction are reportedly set to go into the SEBI-Sahara refund account, paving the way for repayments to investors.

Sahara’s troubles began in 2012 when SEBI ruled that the group had illegally raised funds through Optionally Fully Convertible Debentures (OFCDs). Subrata Roy was jailed in 2014 for failing to repay investors, and subsequent attempts to sell Sahara assets over the next nine years repeatedly failed. 

Following Roy’s death in November 2023, Sahara reportedly submitted a term sheet with Adani to the Supreme Court in September 2025. The court is now set to hear the matter on October 14 to decide on the approval of the deal.

If the Supreme Court gives its approval, Adani will deposit a lump sum into the SEBI-Sahara refund account, and over 88 Sahara assets will officially transfer to the group, according to a report by Outlook.