Supreme Court to hear Sahara chief’s property attachment case

By: | Published: September 23, 2016 10:40 AM

The Supreme Court will on Friday hear the Securities and Exchange Board of India’s (SEBI) application to appoint a receiver for attaching the properties of paroled Sahara chief Subrata Roy.

The apex court had asked Sahara India to reveal the source of the Rs 18,000 crore it had claimed to have paid back to the investors (PTI)The apex court had asked Sahara India to reveal the source of the Rs 18,000 crore it had claimed to have paid back to the investors (PTI)

The Supreme Court will on Friday hear the Securities and Exchange Board of India’s (SEBI) application to appoint a receiver for attaching the properties of paroled Sahara chief Subrata Roy.

The apex court had on September 16 extended Roy’s parole till today.

Roy has been out on parole since May after serving a two-year term in Delhi’s Tihar Jail, to hold his mother’s last rites who passed away after a prolonged illness.

In one of the last hearings, their bail was extended till September 16 on the condition that the Sahara Group deposit Rs 300 crores with the apex court.

The apex court had asked Sahara India to reveal the source of the Rs 18,000 crore it had claimed to have paid back to the investors.

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