India’s billionaire industrialist Gautam Adani, Chairman of the Adani Group, is reportedly preparing to close one of the largest real estate deals in Indian history. According to reports submitted to the Supreme Court, Sahara India Commercial Corporation has expressed its intent to sell 88 of its properties to Adani Properties Limited. The transaction is estimated to be worth more than ₹1 lakh crore, making it potentially the biggest property deal ever witnessed in India.
Supreme Court’s Approval Crucial for the Deal
Senior advocate Kapil Sibal, representing the Sahara Group, informed a Supreme Court bench headed by Chief Justice B.R. Gavai along with Justices Surya Kant and M.M. Sundresh that both parties have signed a term sheet, which has been submitted to the court in a sealed envelope. Sibal emphasized that the deal will move forward only after Supreme Court approval.
He further added that the proceeds from the sale would be sufficient to clear Sahara Group’s outstanding liabilities, which have been pending for years.
Adani Group’s Interest and Legal Process
Supporting the move, senior advocate Mukul Rohatgi, appearing on behalf of the Adani Group, stated that the conglomerate intends to purchase all of Sahara’s properties in one go. Like Sibal, he confirmed that the transaction will only proceed after the apex court’s consent.
Rohatgi mentioned that while the term sheet has been filed under seal, he is not aware of the exact financial figure offered by the Adani Group for the 88 properties spread across India. However, insiders familiar with the negotiations have indicated that the value exceeds ₹1 lakh crore, though both parties have refrained from publicly disclosing the exact amount.
Sahara’s Pending Obligations and SEBI’s Role
Amicus curiae and senior advocate Shekhar Naphade reminded the court that in 2012, two Sahara Group companies — Sahara Housing and Sahara Real Estate — were ordered to deposit ₹25,000 crore into the SEBI-Sahara account. Out of this, around ₹4,481 crore is still pending.
Solicitor General Tushar Mehta informed the court that the government has already started refunding investors from the SEBI-Sahara account. However, he recommended that the Sahara-Adani property deal should be examined at the government level to ensure transparency and legality.
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Government and SEBI to Submit Responses
Accepting the submissions, the Supreme Court has allowed the Finance Ministry and the Ministry of Cooperation to become parties to the case. It has also sought responses from both ministries, SEBI, and the amicus curiae within three weeks regarding the proposed property sale.
The bench also requested Shekhar Naphade to prepare a detailed list of Sahara’s assets and report their current ownership status. The amicus suggested that Sahara must identify properties that have already transferred to third parties, as some assets might no longer be under the group’s direct control.
Kapil Sibal explained that many of Sahara’s properties were managed by employees, making it difficult for the company to track all holdings. He confirmed that while the initial list includes 88 assets, additional properties could be added later as their details emerge.
Hearing Adjourned to November 17:Gautam Adani
The Supreme Court stated that a decision on whether to sell the properties collectively or in parts will be made only after receiving inputs from the government, SEBI, and the amicus curiae. The next hearing is scheduled for November 17.
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A Landmark Move in India’s Real Estate Sector
If this massive transaction goes through, it will mark one of the largest real estate acquisitions in Indian history. Beyond clearing Sahara Group’s long-standing debts, the deal will also significantly expand the Adani Group’s real estate portfolio, strengthening Gautam Adani’s presence in the property sector.
With this move, Gautam Adani once again demonstrates his strategic vision and ambition to reshape multiple industries — from infrastructure and energy to now real estate — solidifying his position as one of India’s most influential business leaders.
