Adani Group Set to Acquire Sahara Properties
It’s official (well, almost): the mighty Adani Group is all set to take over a major chunk of Sahara Group’s assets, but only if the Supreme Court gives the green signal.
According to some media reports, Sahara submitted a term sheet to the Court on September 6, 2025, offering more than 88 properties in one mega deal. We’re talking about big names here- Aamby Valley Township in Maharashtra and the iconic Sahara Star Hotel near Mumbai airport are just the beginning.
Adani to take over landmark Properties of Sahara in Lucknow 🔥
1- Sahara Ganj Mall in Hazratganj
2- 170 Acres Sahara City in the prime GomtinagarAwaiting Final Supreme Court judgement for the takeover. pic.twitter.com/vbVhVM5eH1
— Lucknow Development Index (@lucknow_updates) September 26, 2025
But before we dive into what’s next, let’s rewind a little. There was a time when Sahara wasn’t just a company- it was an empire. In Lucknow, Sahara wasn’t just famous, it was everything. People say the city’s economy was practically running on Sahara’s payroll. From luxury hospitals to malls, new-age estates, and lifestyle upgrades for the common man, Sahara transformed how people in Uttar Pradesh, especially Lucknow, lived. It created thousands of jobs and gave hope where there was none.
At its peak, Sahara was more than what Adani is today, at least in the emotional economy of the people. Despite its legal troubles and scandals, many old-time Lucknowites still speak of Sahara with pride, remembering it as the reason their families thrived.
Now, with Adani stepping in to take over what’s left, this marks not just a deal, it’s the final chapter in the rise and fall of a once-mighty ecosystem. A takeover filled with power, nostalgia, and maybe, redemption.
Key Properties Of Sahara In The Sale For Adani
The assets being sold include:
- Aamby Valley City, Maharashtra – 8,810 acres
- Sahara Star Hotel, near Mumbai Airport
- Properties across several states:
- Maharashtra
- Uttar Pradesh
- Haryana
- Rajasthan
- Gujarat
- West Bengal
- Jharkhand
- Madhya Pradesh
- Karnataka
- Uttarakhand
Sahara’s Former Business Empire
At its peak, the Sahara Group owned:
- An airline
- Cricket and Formula 1 sports teams
- Hotels in London and New York
- Mutual funds and financial services
- Life insurance business
- 36,000+ acres of land
- Aamby Valley City township
Most of these assets have been seized, sold, or are under legal proceedings.
Court Petition And Legal Requests By Sahara Before Handing Ovre To Adani
In its petition, Sahara Group invoked Article 142 of the Constitution and asked the Supreme Court to:
- Protect the listed properties from regulatory or criminal investigations.
- Ensure that only the Supreme Court handles all legal claims or liabilities related to these properties.
- Lift existing seizure orders, restrictions, or attachments by other authorities.
Deal Details And Court Oversight By Sahara
This is a highly sensitive deal, and the financials will be kept under lock and key, only the Supreme Court will be provided with the financials, sealed and confidential. According to findings by Some Publisgers and media reprots, Adani will need to deposit the payment into the SEBI–Sahara refund account or any other account as determined by the court. No cherry-picking of properties here, the court wants all 88+ properties sold as a single large package, not individually. The next court appearance is a major one on October 14, 2025, when the judges may direct the money to be deposited straight into that refund account. Wait, it’s a VERY high-stakes game!
Background: The Sahara-SEBI Dispute
- In 2012, SEBI ruled that two Sahara entities illegally raised funds through Optionally Fully Convertible Debentures (OFCDs) without regulatory approval.
- SEBI ordered Sahara to refund the money along with interest to investors.
- The Supreme Court upheld SEBI’s order, reinforcing the refund directive.
- In 2014, Sahara founder Subrata Roy was jailed for failing to comply with the repayment order.
- Subrata Roy was later released on parole, but delays in the refund process persist.
- A special SEBI–Sahara refund account was created to manage investor repayments.
Also Read: Time To ‘Accelerate’: Adani Outlines Priorities After SEBI Closure
Aishwarya is a journalism graduate with over three years of experience thriving in the buzzing corporate media world. She’s got a knack for decoding business news, tracking the twists and turns of the stock market, covering the masala of the entertainment world, and sometimes her stories come with just the right sprinkle of political commentary. She has worked with several organizations, interned at ZEE and gained professional skills at TV9 and News24, And now is learning and writing at NewsX, she’s no stranger to the newsroom hustle. Her storytelling style is fast-paced, creative, and perfectly tailored to connect with both the platform and its audience. Moto: Approaching every story from the reader’s point of view, backing up her insights with solid facts.
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