SAHARA GROUP CHIEF NOT REFUNDING INVESTORS MONEY DESPITE SC ORDER

21 02 2014

 

Supreme Court has taken serious view of the Sahara group not refunding 20,000 crore rupees of investors money despite its order.

The Apex Court has asked Sahara chief Subrata Roy to be personally present before it and allowed SEBI to go ahead with the sale of companies’ properties.

A bench of Justices K S Radhakrishnan and J S Khehar also directed three directors of Sahara group companies to appear before the court on the 26th of this month. The bench also asked SEBI to sell the properties of the group whose sale deeds were handed over to the market regulator to recover the money. It said, SEBI can put those properties on auction and get the money. The apex court in its judgement of August 31, 2012, had directed SEBI to attach properties and recover the money.