11:29 am - Thursday December 14, 2017

File review application, SC tells Sahara

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Employee can't escape recovery of excess payments: SC
Employee can't escape recovery of excess payments: SC

New Delhi – The Supreme Court Wednesday asked the Sahara Group to file an application seeking to rectify the alleged error in the order which barred group head Subrata Roy and its two directors from going abroad till they submit original title deeds of their assets worth Rs.20,000 crore to SEBI to cover investors’ money.

The court had by its Oct 28 order said that Subrata Ray and his two directors against whom Securities and Exchange Board of India (SEBI) has moved a contempt petition will not leave the country till the market regulator has received the original title deeds and also examined them to its satisfaction and reported it to the court.

As Sahara counsel C.A. Sundaram mentioned the matter, Justice K.S. Radhakrishnan told him to file a review application.

“File a review,” said Justice Radhakrishnan as Sundaram told the court: “Sorry to renew my request (seeking rectification of error).”

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