Sebi Sahara Case
Sebi Sahara Case News
Supreme Court had on 12 October taken strong exception to the alleged obstruction by the Sahara Group in the Aamby Valley auctioning process and warned that anybody creating any impediment would be liable for contempt and "sent to jail"
Royale Partners Investment Fund, a Mauritius-based investor, said it has offered to invest $1.67 billion (over Rs 10,700 crore) in the Sahara group's Aamby Valley project
The Supreme Court bench fixed the matter for further hearing on 11 September
The Supreme Court on Tuesday directed Sahara group chief Subrata Roy to deposit Rs 1,500 crore in the SEBI-Sahara refund account by 7 September.
If the cheque amounting Rs 552.21 crore is dishonoured, then appropriate action will be taken, warns Supreme Court
The court said that the reserve price for the auction of Aamby Valley would be Rs 37,392 crore
The court extended Subrata Roy's parole until 19 June
Kapil Sibal submitted that there was a need for "breathing time" for the Sahara group to make the payment and contended that no bank or investor was claiming the money
If you want to be heard, you go to jail; don't tell us what to do, the court told Subrata Roy's counsel