Sahara's Nine Jewels - as disclosed to the SC

The Sahara group’s affidavit dated 4 January 2012 asserts that it had “in course of its dealings deployed its funds (Rs 24,000 crore raised from optionally fully convertible debentures) inter alia for acquisition of assets.” These are the “nine jewels,” or properties, it has disclosed to the Supreme Court.

(1) Sahara’s Company Aamby Valley Ltd: Development rights for about 707 acres of land in Pune, Maharashtra

Owners: Aamby Valley Ltd. Amount spent on purchasing: Rs 3,459 core

(2) Sahara India Real Estate Corporation Ltd (SIREC): Development rights in 186-acre plot at prime location in Delhi and Gurgaon

Owners: Sahara Constructions Pvt Ltd, Sahara India Residential Holding Pvt Ltd., Sahara India Prop (P) Ltd, Sahara India Dev (P) Ltd, Sahara India Real Estate (P) Ltd, Sahara India Commercial Corporation Ltd, Sahara Structurals Pvt Ltd, Sahara Township Pvt Ltd, Sahara Residentials Pvt Ltd, Sahara Complex Pvt Ltd, Sahara Land Arts Pvt Ltd, Sahara Enclave Pvt Ltd.

SIREC is development rights holder for the above Sahara Group of companies. Amount spent on purchasing: Rs 1,436 crore

(3) A 33 percent stake in Versova Project, comprising 106 acres near Lokhandwala, Mumbai

Owners: Sahara India Commercial Corporation Ltd. Amount spent of purchase: Rs 1,848 crore

(4) 90-95 percent stake in 64 Special Purpose Vehicles (partnership firms) of Sahara group having 64 projects in 64 cities admeasuring 4,378 acres of land.

Owners: Tens of Companies, which are partner companies of the Sahara Groups. Amount spent of purchase: Rs 1,105 crore

The (estimated) valuation of SIREC’s share in the said projects is Rs 21,631 crore (before tax)

(5.1): 40 percent stake in four city-home projects in four cities/town over 318 acres.

Owners and development rights held: Sahara Group entities. The enterprise valuation of SIREC is this project is about Rs 888 crore (before tax)

(5.2) 50 percent stake in 15 city home projects in 15 cities/towns admeasuring 1,751 acres

Owners: Sahara Group entities, or development rights held by Sahara Group entities. The enterprise valuation of SIREC’s shares in this property is about Rs 5,192 crore. Amount spent of purchase: Rs 180 crore for 5(1) and 5 (2) properties

(6) 30 percent stake in Lucknow district project comprising 170 acres of land.

Owner: Sahara India Commercial Corporation Ltd. Amount spent on purchase: Rs 1,000 crore

(7) 100 percent stake by way of holding of equity shares of 60 entities having parcels of lands totalling 515 acres at 16 locations in India

Amount spent on purchase: Rs 532 crore. The enterprise value of SIREC’s share in this project is about Rs 3,138 crore (before tax).

(8) 100 percent stake in two entities holding development rights in land admeasuring about 196 acre and 56 acres at Vasai and Malegaon, Maharashtra

Amount spent on purchase: Rs 62 crore. The enterprise value of SIREC’s share is Rs 2,421 crore (before tax)

(9) Stake in Aamby Valley Ltd: By acquisition of 22,05,64,045 equity shares of Rs 10 each of Aamby Valley Ltd, enlisted public company which constitutes about 40.40 percent of the total equity share capital of Aamby Valley Ltd. Sahara Aamby Valley City was conceived in 1996 as an integrated city to be spread over an area of approximately 10,000 acres of land. It is one of the projects undertaken by the Sahara India Parivar in its township development segment.

Amount spent on purchase: Rs 5,207 crore. The valuation of the land is Rs 40,460 crore.