Aamby Valley to be handed over to receiver within 48 hours, orders SC

Pune police had taken control of the property on Sahara's request; Sebi had complained the move obstructed auction process

The Supreme Court ordered the Maharashtra police to hand over the possession of luxury township Aamby Valley to the official liquidator of the Bombay High Court within 48 hours.

A Bench of the chief justice, Dipak Misra, and judges Ranjan Gogoi and A K Sikri directed the liquidator to conduct an auction process afresh under the guidance of the companies Bench judge in Mumbai and a judge of the Bombay High Court. 

The Bench warned that any further attempts to impediment the auction could land the contemnors in jail. 

This came after the Securities and Exchange Board of India (Sebi) petitioned that the