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HindustanTimes Tue,21 Oct 2014

Sahara Group claims SC website order has error

HT Correspondent, Hindustan Times  New Delhi, October 29, 2013
First Published: 23:37 IST(29/10/2013) | Last Updated: 23:45 IST(29/10/2013)

The Sahara Group on Tuesday claimed before the Supreme Court that there was an error in its order uploaded on the top court’s website late Monday night, restraining its managing worker Subrata Roy from leaving the country till the company handed over title deeds worth Rs. 20,000 crore to market regulator the Securities and Exchange Board of India (Sebi).

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Senior advocate CA Sundaram made an urgent mentioning before a bench headed by Justice KS Radhakrishnan and contended the order uploaded on the website was not what the court had dictated in the open court.

He said at the time of pronouncing the order, the court had said the alleged contemnors, including Roy, would be restrained from travelling abroad if the documents were not handed over to Sebi within three weeks.

The uploaded order, however, restrained Roy’s travel till the company gave the title deeds.

After hearing Sundaram’s submission, Justice Radhakr-ishnan said he would consult Justice JS Kehar, who was part of the special bench that passed the order, and consider the plea. Sahara, however, wasn’t heard as both the judges were sitting separately and were unable to come together for a special bench.

Holding the company was playing “hide and seek”, the Supreme Court had ordered it to hand over the title deeds, saying Sahara could not be trusted any more on the issue of return of over Rs. 19,000 crore to its investors.

The apex court had on August 31 last directed the Sahara Group to refund Rs. 24,000 crore by the end of November.

The deadline was further extended and the companies were directed to deposit Rs. 5,120 crore immediately and Rs. 10,000 crore in first week of January and the remaining amount in first week of February.

The group, which had handed over the draft of Rs. 5,120 crore on December 5, 2012, has failed to pay the rest of the amount.


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