Sahara Group's Subrata Roy's arrest plea moved by Sebi before Supreme Court
The market regulator mentioned the matter before a bench headed by Justice K S Radhakrishnan which agreed to hear its plea and posted the case for hearing in the first week of April.
Sebi urged the court to allow it to "take measures for arrest and detention in civil prison of promoter of Sahara Subrata Roy Sahara and the two male directors - Ashok Roy Choudhary and Ravi Shankar Dubey - after giving reasonable
opportunity of hearing."
Sebi also sought direction that their passports be deposited with the Supreme court.
Sahara group and Sebi are locked in legal dispute over the refunding of 24,000 crore by its two companies--Sahara India Real Estate Corporation (SIREC) and Sahara Housing Investment Corporation (SHIC)--to its investors.
Earlier, the last hope of Sahara group to get more time to refund Rs 24,000 crore to its investors was today dashed in the Supreme Court which dismissed its plea and pulled it up for not complying with the court's earlier order to return the money by first week of February.
A bench headed by Chief Justice Altamas Kabir, which had earlier extended the deadline to two companies of the group for refunding the money from November end to first week of February, had refused to grant more time.
SIREC and SHIC along Roy
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