What is sahara case

Roy and the three directors had filed applications in the court seeking discharge from the case. The Special Court in Mumbai is expected to soon frame charges against the accused- Sahara chairman Subrata Roy and his accomplices under the Securities and Exchange Board of India Sebi Act, considered to be the first stage for the commencement of trial. With Ayodhya land dispute case hearing scheduled to be concluded on Oct 17, the CJI could now have breathing space to look into listing of the contempt petitions against Roy and two other Sahara Group cos.

Sebi said an aggregate amount of Rs 15, crore has been recovered so far from Sahara. Have you read these stories? Flood warning issued in parts of Tamil Nadu Updated: Nov 12, , The flood warning has been issued in various districts of Tamil Nadu with incessant rains continuing in parts of the state on Friday. ET NOW. Brand Solutions. Video series featuring innovators.

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On January 24, the top court had exempted Roy and two other directors from personal appearance till "further orders" in a case related to their alleged failure in depositing over Rs 25, crore in the Sebi-Sahara account for returning investors' money.

The top court, on January 31 last year, had directed Roy and two other directors, Ravi Shankar Dubey and Ashok Roy Choudhary, to personally appear before it "to enable the court to pass appropriate orders so that the law can take its own course and reach the desired conclusion". It had said that the efforts of the Sahara group to pay back did not "inspire the confidence of the court" as its order for deposit of over Rs 25, crore has not been complied with so far. Roy was sent to the Tihar Jail by the apex court on March 4, and came out on parole after spending over two years in prison on May 6, to perform the last rites of his mother Chhabi Roy.

He has been out of prison since then. Earlier, the apex court had noted that the Sahara group has already deposited around Rs 20, crore in the Sebi-Sahara account, which includes Rs 15, crore principal amount and Rs 4, crore interest. In July , the auctioning process of Sahara group's prized Aamby Valley properties was put off by the top court after it was informed that the auction notice did not elicit any response from prospective buyers.

Subscribe on YouTube. As of now, no one can say for certain, but any PM concerned with protecting his reputation would surely want his innocence revealed through a thorough and independent investigation? Not Modi. He ducks and weaves but does nothing to explicitly deny his i More News ».

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