{"id":16088,"date":"2012-01-10T11:28:33","date_gmt":"2012-01-10T05:58:33","guid":{"rendered":"https:\/\/www.legalindia.in\/news\/?p=16088"},"modified":"2012-01-10T11:32:34","modified_gmt":"2012-01-10T06:02:34","slug":"supreme-court-extends-interim-relief-for-sahara-group-firms","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/news\/supreme-court-extends-interim-relief-for-sahara-group-firms","title":{"rendered":"Supreme court extends interim relief for Sahara group firms"},"content":{"rendered":"<p><a href=\"https:\/\/www.legalindia.in\/news\/supreme-court-extends-interim-relief-for-sahara-group-firms\/supreme-2\" rel=\"attachment wp-att-16092\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" data-attachment-id=\"16092\" data-permalink=\"https:\/\/www.legalindia.com\/news\/supreme-court-extends-interim-relief-for-sahara-group-firms\/supreme-2\" data-orig-file=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2012\/01\/supreme.jpg?fit=250%2C202&amp;ssl=1\" data-orig-size=\"250,202\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"supreme\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2012\/01\/supreme.jpg?fit=150%2C121&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2012\/01\/supreme.jpg?fit=250%2C202&amp;ssl=1\" class=\"alignright size-full wp-image-16092\" src=\"https:\/\/i0.wp.com\/www.legalindia.in\/news\/wp-content\/uploads\/2012\/01\/supreme.jpg?resize=250%2C202&#038;ssl=1\" alt=\"\" width=\"250\" height=\"202\" srcset=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2012\/01\/supreme.jpg?w=250&amp;ssl=1 250w, https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2012\/01\/supreme.jpg?resize=150%2C121&amp;ssl=1 150w\" sizes=\"auto, (max-width: 250px) 100vw, 250px\" \/><\/a>The Supreme Court Monday admitted a plea by two Sahara group companies challenging the Securities Appellate Tribunal&#8217;s order directing them to refund Rs.17,400 crore mopped up from 2.3 crore investors and ordered the continuation of its interim stay on the tribunal&#8217;s direction.<\/p>\n<p>The apex court bench of Chief Justice S.H. Kapadia, Justice A.K. Patnaik and Justice Swatanter Kumar admitted the plea after it was told that an affidavit had been filed by the two companies giving details of their financial status and assuring that the interest of the 2.3 crore investors would be protected.<\/p>\n<p>Two Sahara group companies &#8211; Sahara India Real Estate Corp and Sahara Housing Investment Corp &#8211; filed the affidavit on apex court&#8217;s direction of Nov 28, 2011.<\/p>\n<p>The court asked the two companies to file an affidavit stating their net worth, details of assets and liabilities and the manner in which they had deployed the investors&#8217; money.<\/p>\n<p>The two firms collected Rs.19,400 crore from 2.3 crore investors through optional fully convertible debentures. The apex court was told during the last hearing that out of the total, Rs.2,000 crore had already been invested.<\/p>\n<p>The Sahara group challenged the SAT order of Oct 18, 2011, by which it directed the two companies to refund Rs.19,400 crore within six weeks with 15 percent interest.<\/p>\n<p>During the last hearing, the apex court also issued notice to both the central government and the securities and exchange regulator on the plea of the Sahara companies.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Supreme Court Monday admitted a plea by two Sahara group companies challenging the Securities Appellate Tribunal&#8217;s order directing them to refund Rs.17,400 crore mopped up from 2.3 crore investors and ordered the continuation of its interim stay on the tribunal&#8217;s direction. The apex court bench of Chief Justice S.H. Kapadia, Justice A.K. Patnaik and [&hellip;]<\/p>\n","protected":false},"author":21,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[85],"tags":[2221,2405,2379,6469,47726],"class_list":["post-16088","post","type-post","status-publish","format-standard","hentry","category-corporate-law-news","tag-chief-justice-s-h-kapadia","tag-justice-a-k-patnaik","tag-justice-swatanter-kumar","tag-sahara-group-companies","tag-supreme-court"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Supreme court extends interim relief for Sahara group firms - Legal News India - Supreme Court &amp; High Court Updates<\/title>\n<meta name=\"description\" content=\"The Supreme Court Monday admitted a plea by two Sahara group companies challenging the Securities Appellate Tribunal&#039;s order directing them to refund - Get the latest legal news from the Supreme Court, High Courts, and government. 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The apex court order of Dec 5,\u2026","rel":"","context":"In &quot;Top Law News&quot;","block_context":{"text":"Top Law News","link":"https:\/\/www.legalindia.com\/news\/category\/top-law-news"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":27568,"url":"https:\/\/www.legalindia.com\/news\/sc-agrees-to-give-early-hearing-to-sebi-plea-against-sahara","url_meta":{"origin":16088,"position":2},"title":"SC agrees to give early hearing to SEBI plea against Sahara","author":"Legal India Admin","date":"April 5, 2013","format":false,"excerpt":"Here in New Delhi to give an early hearing to SEBI's plea seeking its\u00a0permission to detain Sahara Group's chairman Subrata Roy Sahara the Supreme Court has got agreed\u00a0and also to initiate contempt proceedings against him for not complying with its orders to refund\u00a0Rs.\u00a024,000 crore to investors. A\u00a0bench headed by Justice\u2026","rel":"","context":"In &quot;Corporate Law News&quot;","block_context":{"text":"Corporate Law News","link":"https:\/\/www.legalindia.com\/news\/category\/corporate-law-news"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":26967,"url":"https:\/\/www.legalindia.com\/news\/sc-declines-to-hear-plea-by-sahara-group-companies","url_meta":{"origin":16088,"position":3},"title":"SC declines to hear plea by Sahara Group companies","author":"Legal India Admin","date":"February 26, 2013","format":false,"excerpt":"The last hope of\u00a0Sahara group\u00a0to get more time to refund Rs 24,000 crore to its investors was dashed in the Supreme Court which dismissed its plea and pulled it up for not complying court's earlier order to return the money by first week of February. A bench headed by Chief\u2026","rel":"","context":"In &quot;Corporate Law News&quot;","block_context":{"text":"Corporate Law News","link":"https:\/\/www.legalindia.com\/news\/category\/corporate-law-news"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":14447,"url":"https:\/\/www.legalindia.com\/news\/plea-to-raze-games-village-filed-in-supreme-court","url_meta":{"origin":16088,"position":4},"title":"Plea to raze Games village filed in supreme court","author":"Legal India Admin","date":"November 9, 2011","format":false,"excerpt":"The Supreme Court Tuesday adjourned by two weeks the hearing on a plea seeking directions to the central and Delhi governments to raze buildings constructed on the flood plains of the Yamuna river for the 2010 Commonwealth Games village. An apex court bench of Chief Justice S.H. Kapadia, Justice A.K.\u2026","rel":"","context":"In &quot;Top Law News&quot;","block_context":{"text":"Top Law News","link":"https:\/\/www.legalindia.com\/news\/category\/top-law-news"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.legalindia.in\/news\/wp-content\/uploads\/2011\/11\/supreme-150x68.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":32524,"url":"https:\/\/www.legalindia.com\/news\/sc-hear-sahara-plea-thursday","url_meta":{"origin":16088,"position":5},"title":"SC to hear Sahara plea Thursday","author":"Legal India Admin","date":"March 13, 2014","format":false,"excerpt":"The Supreme Court will Thursday hear the plea by Sahara group chief Subrata Roy challenging the court's March 4 order sending him to judicial custody, which he described as illegal. The bench of Justice K.S. Radhakrishnan and Justice Jagdish Singh Khehar said they would hear the matter Thursday as they\u2026","rel":"","context":"In &quot;Top Law News&quot;","block_context":{"text":"Top Law News","link":"https:\/\/www.legalindia.com\/news\/category\/top-law-news"},"img":{"alt_text":"sahara shree","src":"https:\/\/i0.wp.com\/www.legalindia.in\/news\/wp-content\/uploads\/2014\/03\/sahara-shree-150x86.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"jetpack_shortlink":"https:\/\/wp.me\/p6H5Bf-4bu","jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/posts\/16088","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/users\/21"}],"replies":[{"embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/comments?post=16088"}],"version-history":[{"count":0,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/posts\/16088\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/media?parent=16088"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/categories?post=16088"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/tags?post=16088"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}