Even as the Sahara Group alleged the atmosphere was prejudiced as SEBI leaked information to media, the bench of Justice Radhakrishnan and Justice JS Khehar sought the company's response on the regulator's plea to transfer all the cases to the SC.
It would hear the case further on May 8.
SEBI's counsel, senior advocate Arvind Dattar submitted there were "shocking things" in the CD given by the company; but denied media reports of 6,000 investors named Kalawati.
He, however, admitted that there were 1,433 Anirudh Singhs whom the company claimed to have refunded money 34 times.
Sahara's counsel senior advocate Ram Jethmalani, however, challenged SEBI's contempt petition against Subrata Roy. He also questioned certain observations made by the SC in its verdict and said they were incorrect conclusions.