The woes of the beleaguered Sahara chief Subrata Roy continues. The newly-constituted bench of Supreme Court, comprising justices TS Thakur and AK Sikri, has refused Roy's release or a possible house arrest on Monday.
The Sahara counsels had submitted a fresh proposal seeking release of Subrata Roy.
Also Read: Sahara case: New bench constituted, next hearing May 19
The counsels said the company will submit Rs 5000 crore cash and bank guarantees worth the remaining amount within 60 days of Roy's release.
Asking to defereeze the bank accounts and properties, Sahara said it will submit Rs 2000 crore in cash from bank accounts within 7 days and will utilise 60 days to sell properties for raising money. It submitted documents showing current availability of Rs 2,600 crore in the bank accounts.
Sahara has also submitted a list of properties that it intends to sell. The list includes some prime properties like Grosvenor House, New York Plaza, Dream New York and some properties from the Aamby Valley.
The 65-year-old Sahara boss has been in jail since March 4 for non-refund of over Rs 20,000 crore to depositors. He was asked to deposit a Rs 10,000-crore bail.
Sahara has also submitted the valuation reports of properties concerned and said that SC can appoint a senior Sebi official to oversee the process.
The company said Roy's release is important as he cannot sell properties from jail, adding that the court can put him behind bars again if the undertaking is not complied with.
However, the SC said that releasing Roy prior to payment "would not be in spirit of the order".
The new bench was constituted after JS Khehar recused himself from hearing the matter.
The entire case was earlier being heard by a bench of Justice K S Radhakrishnan and Justice Khehar since 2012. Justice Radhakrishnan retired on May 14.
The Sahara counsels had sought recusal of earlier bench, citing that it carried a strong prejudice against the group and its chief.
The company said it never meant to insult the court and would like to unreservedly apologise.
Sahara also said that it has made a refund of Rs 17,000 crore to three crore investors.
The SC bench asked Sahara counsels how the company generated Rs 17000 crore for repayment within 18 months. It also asked whether Sahara was holding Rs 17000 crore in cash while making the repayment.
It also referred to the earlier order, which questioned the existence of depositors, investors.
With respect to the proposal, the apex court asked whether the company will be in a position to pay the remaining dues, if assets sold raise Rs 10,000 crore.
It has also asked Sahara to deposit the money directly with Sebi. The matter will again come up for hearing next week.
Anda sedang membaca artikel tentang
Sahara-Sebi case: SC refuses release of Subrata Roy
Dengan url
http://kebugaranhidup.blogspot.com/2014/05/sahara-sebi-case-sc-refuses-release-of.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Sahara-Sebi case: SC refuses release of Subrata Roy
namun jangan lupa untuk meletakkan link
Sahara-Sebi case: SC refuses release of Subrata Roy
sebagai sumbernya
0 komentar:
Posting Komentar