Adani Group Moves to Acquire Sahara’s Premium Assets Pending Court Nod

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The Adani Group is preparing to acquire four marquee properties from the beleaguered Sahara Group in a deal estimated at ₹5,000 crore, pending Supreme Court approval, said a report exclusive to India Today. Here's a breakdown of the situation and what it could mean:

The Four Flagship Properties

• Aamby Valley: A luxury township near Lonavala
• Hotel Sahara Star: A prominent hotel near Mumbai airport
• Sahara City Homes (Lucknow): A large-scale residential project
• Sahara Mall (Gurgaon): A commercial property in a prime location of Gurugram. 

These assets are part of a broader package of 87–88 properties Adani seeks to acquire, including hotels, malls, and land parcels across India.

Legal and Financial Hurdles

• The Supreme Court is overseeing the transaction due to Sahara’s long-standing legal battles over investor refunds.
• The Employees’ Provident Fund Organisation (EPFO) has issued a ₹1,567 crore notice to Adani, demanding settlement of Sahara’s unpaid PF dues before the acquisition proceeds.
• Adani may need to provide an undertaking to clear these dues post-acquisition if not settled upfront.

Strategic Implications

• For Adani, the acquisition aligns with its strategy to expand its real estate and hospitality footprint.
• For Sahara, this could be a final attempt to resolve its decade-long financial crisis and repay investors.

The goal of this possible acquisition is said to help Sahara repay ₹9,000 crore in investor dues, stemming from a long-running Supreme Court-monitored dispute over illegal bond schemes.

As mentioned above, the EPFO has issued a ₹1,567 crore notice to Adani, citing unpaid PF dues by Sahara entities dating back to 1982. Under Indian law, Adani must either settle these dues before acquisition or provide a binding undertaking to pay them afterward.

The Supreme Court bench led by Chief Justice B.R. Gavai is reviewing the proposal. It has directed the Ministry of Finance and Ministry of Cooperation to be impleaded, given the scale and complexity of the case. The court emphasized that Sahara employees, many unpaid since 2014, must be considered before any deal is finalized.

The acquisition would significantly expand Adani’s real estate footprint, especially in high-value urban and resort zones. Adani Properties Pvt. Ltd., the group’s unlisted real estate arm, is leading the bid.