Monday, October 28, 2013

Sahara cannot be trusted any more: Supreme Court

Holding that it was playing 'hide and seek' and cannot be trusted any more, the Supreme Court today directed the Sahara group to hand over title deeds of its properties worth Rs 20,000 crore to SEBI warning that failure to comply would mean Subrata Roy cannot leave India.

Making it clear that there is no "escape" from depositing the investors' money with the market regulator, the apex court also asked the group to also give valuation reports of the properties to SEBI which will verify worth of assets. 

A bench of justices K S Radhakrishnan and J S Khehar, which was about to restrain Roy from leaving the county till documents are handed over, however, said that he will not be allowed to go abroad without its permission if order is not complied in three weeks. 

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