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SC refuses to halt auction of Sahara’s Aamby Valley property



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New Delhi, Aug 10 : The Supreme Court on Thursday declined the plea of Sahara chief Subrata Roy to put on hold the auction of Aamby Valley.

Refusing to postpone publication of sale notice for Aamby Valley on August 14, a bench headed by Justice Dipak Misra allowed the liquidator to go ahead with the auction.

The Sahara Group had moved the apex court and sought to push back the publication of sale notice and also urged more time to review Sahara’s payment plan.

The auction process should be put on hold till September, so that his client could arrange Rs 1,500 crore to be deposited in the Sebi-Sahara account, senior advocate Kapil Sibal, appearing for Sahara, told the bench.

On July 25, the apex court had asked Subrata Roy to deposit Rs 1,500 crore — a part payment of Rs 24,000 crore that two group companies had raised from the investors.

Read More : Sahara moves SC to stall Aamby Valley auction

Directing that the sum be deposited by September 7, the court had permitted Roy to place before them a reasonable plan for the payment of balance amount over a period of 18 months — as he had himself sought.

As it cleared all the terms and conditions submitted by the Bombay High Court’s official liquidator for floating a global tender to invite bids for the auction of Aamby Valley, the court had said that if Sahara paid Rs 1,500 crore by September 7 and submitted a payment plan, it would stall the process of auctioning Aamby Valley.

The amount also includes the Rs 305 crore balance that Roy is yet to pay towards the last instalment that he was supposed to deposit by June 15.

On April 16, the court had asked the Bombay High Court’s official liquidator to evaluate and auction the Aamby Valley property of the Sahara Group. The liquidator had said that the market value of the property was Rs 37,390 crore and the fair value Rs 43,000 crore.

The Sahara India Real Estate Corporation Ltd. and the Sahara Housing Investment Corporation Ltd. had raised Rs 24,000 crore through optionally fully convertible debentures in 2007 and 2008. The top court by its August 31, 2012 order had directed Sahara to refund this amount with 15 per cent interest.

The court has been recovering money from the group in instalments. Sahara has paid Rs 16,000 crore till now.



IAF fake recruitment website found, FIR filed



New Delhi, March 22: The Indian Air Force on Thursday filed an FIR against unidentified persons for creating a fake website to provide employment opportunities in the IAF.

The fake IAF website was identified by one of the officers of IAF and hence a complaint was registered on March 16, under the Information Technology Act, ANI reported.

According to FIR, the reprobates, who created the fake website called applications for various posts.

Wing Commander Manjit Singh, said “The application form said it was for a vacancy in the ‘civilian group C posts in the Air Force record offices.”

Singh posted at the Army headquarters in New Delhi immediately noted down the website’s name “”.


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PM Awas Yojana: Only 8 percent houses built in 3 years



New Delhi, March 22: The Pradhan Mantri Awas Yojana (PMAY) for urban areas which promised “housing for all” by 2022, has barely completed target of  8%, or 3 lakh of the 40.6 lakh houses in last three years.

However, the condition of the rural version of PMAY is better, as under this scheme 30%, or 28.8 lakh houses, have been completed against the 95.4 lakh targeted by the rural development ministry in 15 months since the plan was inaugurated, the Times of India reported.

According to data on the websites of the urban affairs and rural development ministries, on March 5 this year, the ministry had considered 8,341 projects under PMAY involving 40.6 lakh houses.

But only 3.4 lakh houses have been constructed so far. while work is underway on 18 lakh or about 44% of the target.

However, the data doesn’t show the stage of development for these houses.

Among those completed, about 3 lakh houses are occupied.

On June 25, 2015, the PMAY (Urban) was launched by Prime Minister Modi aiming to build two crore houses for the poor in urban areas by 2022.

Responding to TOI’s questions, the joint secretary and mission director, housing for all, in the urban housing ministry stated, “Keeping in view that housing projects take 18-24 months to complete (in case of projects under two categories), we can expect that in the financial year 2018-19, the pace of PMAY (U) will pick up quite significantly”.

While, PMAY (Rural) was inaugurated on November 20, 2016, and projected to build 1 crore new houses by March 31, 2019. Ou of which, 51 lakh houses were to be completed by end-March 2018. Thus, the 27.7 lakh actually completed are only about 54% of the target at present.


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Delhi Budget 2018-19: 26 % allocation for Education, Health gets 12.7 %



New Delhi, March 22: Delhi Finance Minister Manish Sisodia on Thursday presented Budget for 2018-19 before the assembly with emphasis on environment and health. 

While announcing the Budget, Sisodia said it estimates are pegged at Rs 53,000 crore which is 19.45 percent more than the revised budget estimates of Rs 44,370 crore for the last fiscal.

Sisodia also described the budget a “Green Budget” and vowed of round-the-year, real-time pollution study.

The study will be a part of a 26-point programme to control pollution in Delhi.

“We are going to thread 26 programmes and schemes of transport, power, environment and PWD for devising a unified system of pollution control, bringing down levels of different pollutants,” he added.

Below we have enlisted top announcements of the Budget 2019-19:

Rs 6,729 crore has been allocated for the health sector, which is 12.7 percent of the total

Project to install 200-250 CCTVs will be completed by June 2019

Rs 100 crore sanctioned for free WiFi scheme

Rs 1500 crore allocated for infrastructure development of unauthorised colonies.

1000 electric buses to be on roads by March 2019

Rs 403 crore had been allocated for Mohalla Clinics and Polyclinics. Also, mobile van clinics were to be established with Rs 15 crore

For Infrastructure development Rs. 1,500 crore allocated

1,000MW of solar and wind power will be bought

Tablets will be provided to all teachers in government schools in a bid to help them keep an online record of students

Twenty-six percent of the Rs 53,000 crore has been allocated for education


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