Sahara group has approached the Securities Appellate Tribunal (SAT) on Tuesday with a fresh appeal against Securities and Exchange Board of India challenging penalty proceedings initiated by the regulator against Sahara India Real Estate Corporation Ltd (SIRECL). The Tribunal adjourned till Monday this matter, which was listed for "admission" on Tuesday morning. The company in its appeal had challenged adjudication proceedings by SEBI to impose penalty, after the regulator issued show cause notice for non-compliance of its orders. Sahara sought adjournment on the ground that it would seek clarity from Supreme Court where contempt proceedings were already pending in the matter. The matter is related to non-compliance to orders to the group with regard to refund of investor money collected through certain bonds. The group had claimed that more than Rs. 20 thousand crore have already been refunded directly to the investors. This case is listed for the next hearing in Supreme Court on January 9, 2014.