Sahara on Monday informed the Supreme Court that it has sold off its stake in London Hotel,\u00a0Grosvener\u00a0House, to one GH Equity UK for 575 million pounds so as to clear its dues to market regulator Sebi. Sahara\u2019s senior counsel Kapil Sibal told a bench headed by Justice Dipak Misra that it had sold the Grosvenor House to GH Equity UK and the later needs permission for transfer of funds, which will come within 10 working days. He further said that about 75 million pounds was being brought to India and the transaction also involved refinancing of funds connected to its interests in other two New York hotels -the Plaza and Dream Downtown Hotels. The bench also granted an extension of ten working days to Sahara to pay\u00a0balance\u00a0amount of Rs709.82\u00a0crore\u00a0out of the promised Rs1,500\u00a0crore. So far, the company has deposited a total of Rs790.18\u00a0crore\u00a0with the Sebi-Sahara account.\u00a0The apex court had on April 27 accepted Roy\u2019s undertaking to pay Rs1,500 by June 15 while refusing to halt the auction process for sale of its luxurious 8,900-acre Aamby Valley City project. Roy had also promised to pay other two\u00a0instalment\u00a0of Rs552\u00a0crore\u00a0and Rs3,000\u00a0crore\u00a0by July 15 and October 30, respectively. Also Watch: The judges also warned that if Sahara defaulted in the payment of the balance amount, they will be compelled to send Sahara chief Subrata Roy to custody upon failure to\u00a0honour\u00a0the payment by July 4. It also fixed the next date of hearing on July 5. The bench also cleared\u00a0way\u00a0for\u00a0auction\u00a0of 87.03\u00a0acre\u00a0of land owned by Sahara in and around Haridwar and directed Sebi to conduct e-auction on or before July 5. This was done after the group sought permission to sell the land for Rs109 crore, which is about 38% less than the circle rates. Meanwhile, the official liquidator of the Bombay High Court told the judges that the terms and conditions for the auction of Amby Valley project\u00a0has\u00a0been\u00a0finalised\u00a0and it is awaiting the court's nod to go ahead with the auction process.\u00a0On April 17, the bench had directed the auction of Aamby Valley, located in Pune district, after Sahara failed to deposit Rs5,092.64\u00a0crore\u00a0with the capital markets regulator.