New Delhi: The Supreme Court of India has agreed to examine the Sahara Group’s petition in relation to amendments in its previous ruling that prevents Sahara Chief Subrata Roy from leaving the country until the Group submits essential property deeds to the market regulator, Sebi.
A Bench of Judges, which reviewed the case presented by the Sahara counsel, announced it would consider the plea in a private chamber. On October 29, Sahara approached the apex court, arguing that there was a mistake in the ruling made on October 28 that barred the Sahara Chief from international travel.
Previously, the bench had declined to issue any temporary relief allowing the Sahara Chief to travel abroad prior to the Group filing a review plea that would seek to amend the earlier decree.
Subrata Roy
Senior Counsel CA Sundaram, representing the Group, indicated that the petition was not aimed at reviewing the existing order but merely at highlighting discrepancies in the order that had been published on the apex court's website compared to what had originally been passed in court.
Reiterating that there is no alternative to depositing the funds owed to investors with the market regulator, the Supreme Court of India instructed the Sahara Group to provide valuation reports of their properties to Sebi.