Sahara India Chief Subrata Roy has challenged the Supreme Court order for detaining him for not depositing 20,000 crore rupees with the market regulator SEBI. In a new petition filed before the apex court, Sahara Chief pleaded that the court should give an urgent hearing in the case as it pertains to Habeas Corpus.A writ of Habeas Corpus is used to bring a prisoner or other detainee before the court to determine if the person's imprisonment or detention is lawful. Appearing for Roy, senior advocate Ram Jethmalani submitted that there is some defect which needs to be cured urgently and pleaded the court to hear him at 2 PM.A bench headed by Chief Justice P Sathasivam said it will hear the case after lunch if the application filed by him gets numbered by the Registry.The Sahara chief and his two directors Ravi Shankar Dubey and Ashok Roy Choudhary were sent to judicial custody on March 4 by a special bench of justices KS Radhakrishnan and JS Khehar for not depositing 20,000 crore rupees with SEBI. On the last date of hearing on March 7, the apex court had asked the Sahara group to come out with an honourable proposal to deposit 20,000 crore rupees of investors money and posted the hearing on March 11. The matter was then posted for hearing on March 11 but the case got adjourned with no date of further hearing specified. The special bench had earlier expressed unhappiness over the proposal of Sahara on the refund of investors' money. It had rejected Sahara's proposal which had offered to pay 2,500 crore rupees within three days and the rest of the amount in five instalments by the end of July, 2015.
News On AIR | March 12, 2014 1:47 PM
Sahara Chief moves SC challenging detention