A special court formed at the Bombay High Court on Friday ordered the sale of eight apartments occupied by the families of Harshad Mehta and his two brothers, Ashwin and Hitesh.
Nearly 20 years after the multi-crore securities scam, the authorities are yet to recover two-thirds of the total liabilities — Rs 1,794.33 crore against the total liabilities of Rs 5,610.04 crore — of Mehta, main accused in the case, and his family members.
The special court had ordered sale of the apartments — all situated in a building, Madhuli, along the Worli sea front — in October 2003 and September 2008. However, both the times the Supreme Court had remanded the matter back for a fresh hearing.
The eight apartments — that cover a total area of 10,400 square feet — are worth about Rs 31.2 crore in the market.