sahara case - rejected bail
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REPORTABLE
IN THE SUPREME COURT OF INDIA
CIVIL ORIGINAL JURISDICTION
I.A. NOS. 8-9 & 10-12 OF 2014IN
CONTEMPT PETITION (C) NO.412 OF 2012IN
CIVIL APPEAL NO. 981 OF 2011
S.E.!.I. "A##$%%'
V$*+*
S, I' R$% E*$ C/#//' L.& O*. "R$*#/'$'*
ITH
I.A. NOS. 8-9 & 10-12 OF 2014
INCONTEMPT PETITION (C) NO.41 OF 2012
INCIVIL APPEAL NO. 98 OF 2011
AND
I.A. NOS. 10-12 OF 2014
INCONTEMPT PETITION (C) NO.20 OF 201
INCIVIL APPEAL NO. 84 OF 2012
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J U D G M E N T
T.S. Thakur, J.
1. ! /+ /$ $ 4, J+'$3 2014 $ ,3 ,%$
$5%''6 ,$ #$ 7$ ,$ 5/'$7'/* /
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$$$ / * Saharas / *,/) / $#/* , SE!I ,$
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&ur attention was also drawn to the "aluationreports in re!ard to the three properties mentionedearlier. 't was ur!ed that the said "aluation reportsha"e been prepared b reputed "aluers at the in-
stance of the Bank of China in connection with theloan transactions as a part of on-!oin! annual e$er-cise undertaken b the lendin! Bank. 'f that be so,Saharas would do well to obtain a confirmation fromthe Bank of China to the effect that the "aluationreports prepared in respect of the three propertiesmentioned abo"e b CB() and *++, ha"e been pre-
pared at the instance of the Bank of China and thatthe said "aluation reports ha"e been accepted bthe Bank to be correct. his could lend re-assurance
to the Court that the "aluestakes held b Saharasin these properties are sou!ht to be transferred onthe basis of the true market "alue of the said as-sets. eedful shall be done e$peditiousl, but notlater than one week from toda./
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/*B
2) Amounts outstanding under the Sahara Group
Loans as at 02 June 201
0. 0mounts outstandin! under the Sahara 1roup +oans as at23 *une 3245 are6
As at 02 June201
G!! Loan P"a#a$%ream Loan
+oanoutstandin!balance
7389,:;2,222.2 2>.22
0ccrued 'nterest 798;,5?9.32 ?.?:
@repament Aee 73,89:,;22.22 =8,;55,83?.2:
+ibor Breaka!eCosts
0ppro$imatel744,8:>,4?, finalamount to be
confirmed at theprepament date
0ppro$imatel79,:52.9?, finalamount to be
confirmed at theprepament date
+e!al Aees 0ppro$imatel74;,222 finalamount to beconfirmed at theprepament date
0ppro$imatel74;,222, finalamount to beconfirmed at theprepament date
@lease note that the e$act amounts re%uired to prepa theSahara 1roup +oans will depend on when the prepamentis made. hilst the abo"e numbers are accurate as at 3
*une 3245 )$cept that the +ibor Breaka!e Costs and+e!al fees are estimates, the are subject to chan!e./
>. T,$ !'= / C,' ,* %*/3 ' ,$ *7$
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Latest &a"uation reports prepared pursuantto the Sahara Group "oans
he followin! Ealuation reports were instructed andaccepted b Aacilit 0!ent for loan securit
purposes6
@laFa #otel Ealuation (eport prepared bCB() dated 3: &ct 324> with the GarketEalue of withthe Garket Ealue of
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