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Supreme Court Directs Sahara Shri Subrata Roy To Summon On Feb 28 Over Unpaid Dues

HARSH RANJAN | 0
4889
| January 31 , 2019 , 17:29 IST

The Supreme Court on Thursday directed Sahara group chief Subrata Roy to appear before it on February 28.

As per media reports, SEBI has informed the court that Sahara group has deposited RS 15,000- 20,000 crore of the Rs 25,700 crore it was ordered to put in after SC cancelled two Sahara group companies for fraudulent collection of deposits from the public.

The SC has summoned him for failing to deposit the rest of the money of 25,700 crores approximately in SEBI-Sahara case. However, it granted another opportunity to the Sahara chief to deposit the money with the SEBI Sahara account.

The top court said six months were given to Sahara by its last order to arrange the amount but what has transpired during the period has not inspired the confidence of the court.

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The bench, also comprising Justices AK Sikri and SK Kaul, declined to give any further chance to Subrata Roy and other directors to comply with its previous orders.

It said it had decided to proceed with the matter so that the law takes its own course and directed Roy and other directors to appear before it personally on the next date of hearing.

"Else the law will take its own course," the top court said. It said six months were given to Sahara by its last order to arrange the amount but what has transpired during the period has not inspired the confidence of the court.