The Sahara Group has submitted a fresh proposal to the Supreme Court to pay Sebi by March next year, 20,000 crore rupees, that it has to return to the investors. The court, however, asked Sahara to file it on registry and said that the proposal cannot be given to court across the table.Sahara said it would pay 20,000 crore rupees by March end, next year in instalments. The new proposal adds up to 3000 crore rupees more than the earlier proposal. Sahara lawyers appealed to the top court once again to release the group's Chief Subrata Roy and two other directors on bail, assuring the court that they won't run away. The lawyers also said that it was an illegal order that sent them to jail and they can challenge it on the grounds of violation of fundamental rights. The arguments in the case will resume today.
News On AIR | March 26, 2014 9:34 AM
Investor repayment: Sahara submits fresh proposal to SC