Capital markets regulator Securities and Exchange Board of India told the Supreme Court on Tuesday that the Sahara Group was obstructing the auction of its project in Aamby Valley city in Pune district, Mintreported. The court had ordered the project be attached in order to recover dues from the company.
The court said the matter will be forwarded to Chief Justice Dipak Misra who will decide on the case.
On August 14, the Bombay High Court had put up the prime property’s reserve price at Rs 37,392 crore for the public auction. The reserve price is the minimum price at which a seller is willing to sell his item at an auction. The seller can lower, but cannot increase the reserve price.
On August 9, Sahara’s advocate Kapil Sibal had requested the Supreme Court to stay the auction, saying that the company would pay Rs 1,500 crore of its dues. However, the court said it did not believe Sahara would actually pay the amount. The bench told the company that it would pass an “appropriate order” if Rs 1,500 crore was paid by September 7.
The Aamby Valley case
The Sahara Group has been embroiled in a lengthy court battle with Sebi over a case involving a Rs 24,000-crore refund to investors.
On February 6, the Supreme Court had ordered the attachment of Aamby Valley to recover dues from the company. The prime property is worth more than Rs 39,000 crore.
The court had extended Sahara chief Subrata Roy’s parole after the company deposited Rs 600 crore with Sebi. Sahara had acknowledged that it owed Rs 14,000 crore as principal money to Sebi, but the top court had denied its offer to clear its dues by July 2019.
The bench, led by Chief Justice Dipak Misra, had ordered the attachment to fast-track the recovery of dues the company owes investors. It had also asked Sahara to provide a list of properties that were free from litigation and mortgage so the information could be released to the public. The court said that it would focus on repayment of the principal amount before ensuring that the group repaid the interest.
Changing the conversation around mental health in rural India
Insights that emerged from discussions around mental health at a village this World Mental Health Day.
Questioning is the art of learning. For an illness as debilitating as depression, asking the right questions is an important step in social acceptance and understanding. How do I open-up about my depression to my parents? Can meditation be counted as a treatment for depression? Should heartbreak be considered as a trigger for deep depression? These were some of the questions addressed by a panel consisting of the trustees and the founder of The Live Love Lough Foundation (TLLLF), a platform that seeks to champion the cause of mental health. The panel discussion was a part of an event organised by TLLLF to commemorate World Mental Health Day.
According to a National Mental Health Survey of India 2015-16, conducted by the National Institute of Mental Health and Neurosciences (NIMHANS), common mental disorders including depression, anxiety disorders and substance use disorders affect nearly 10% of the population, with 1 in 20 people in India suffering from depression. The survey reported a huge treatment gap, a problem that is spread far and wide across urban and rural parts of the country.
On 10th of October, trustees of the foundation, Anna Chandy, Dr. Shyam Bhat and Nina Nair, along with its founder, Deepika Padukone, made a visit to a community health project centre in Devangere, Karnataka. The project, started by The Association of People with Disability (APD) in 2010, got a much-needed boost after partnering with TLLLF 2 years ago, helping them reach 819 people suffering from mental illnesses and spreading its program to 6 Taluks, making a difference at a larger scale.
During the visit, the TLLLF team met patients and their families to gain insights into the program’s effectiveness and impact. Basavaraja, a beneficiary of the program, spoke about the issues he faced because of his illness. He shared how people used to call him mad and would threaten to beat him up. Otherpatients expressed their difficulty in getting access to medical aid for which they had to travel to the next biggest city, Shivmoga which is about 2 hours away from Davangere. A marked difference from when TLLLF joined the project two years agowas the level of openness and awareness present amongst the villagers. Individuals and families were more expressive about their issues and challenges leading to a more evolved and helpful conversation.
The process of de-stigmatizing mental illnesses in a community and providing treatment to those who are suffering requires a strong nexus of partners to make progress in a holistic manner. Initially, getting different stakeholders together was difficult because of the lack of awareness and resources in the field of mental healthcare. But the project found its footing once it established a network of support from NIMHANS doctors who treated the patients at health camps, Primary Healthcare Centre doctors and the ASHA workers. On their visit, the TLLLF team along with APD and the project partners discussed the impact that was made by the program. Were beneficiaries able to access the free psychiatric drugs? Did the program help in reducing the distance patients had to travel to get treatment? During these discussions, the TLLLF team observed that even amongst the partners, there was an increased sense of support and responsiveness towards mental health aid.
The next leg of the visit took the TLLLF team to the village of Bilichodu where they met a support group that included 15 patients and caregivers. Ujjala Padukone, Deepika Padukone’s mother, being a caregiver herself, was also present in the discussion to share her experiences with the group and encouraged others to share their stories and concerns about their family members. While the discussion revolved around the importance of opening up and seeking help, the team brought about a forward-looking attitude within the group by discussing future possibilities in employment and livelihood options available for the patients.
As the TLLLF team honoured World Mental Health day, 2017 by visiting families, engaging with support groups and reviewing the successes and the challenges in rural mental healthcare, they noticed how the conversation, that was once difficult to start, now had characteristics of support, openness and a positive outlook towards the future. To continue this momentum, the organisation charted out the next steps that will further enrich the dialogue surrounding mental health, in both urban and rural areas. The steps include increasing research on mental health, enhancing the role of social media to drive awareness and decrease stigma and expanding their current programs. To know more, see here.
This article was produced by the Scroll marketing team on behalf of The Live Love Laugh Foundation and not by the Scroll editorial team.