Subrata Roy along with two other company directors have been sent to judicial custody till the next date of hearing on March 11. The detention of the fourth respondent, Vandana Bhargava has not been ordered as she has been given a concession for being a woman Director.
The SC has asked the Sahara group to come up with a proposal to repay the money it owes to its investors.
The SC in its judgement said that Sahara maintained an "unreasonable stand throughout the proceedings before SEBI, SAT, High Court and even before this Court. Sufficient opportunities have been given to Sahara to fully comply with those orders and purge the contempt committed by them but, rather than availing of the same, they have adopted various dilatory tactics to delay the implementation of the orders of this Court."
Here is the full text of the Supreme Court ruling on Sahara:
Updated Date: Mar 04, 2014 20:11 PM