Sahara Group today moved the Supreme Court against the order of the Securities Appellate Tribunal, SAT, dismissing its appeal against market regulator SEBI in a case involving refund of 24,000 crore rupees with interest to about three crore investors.A bench headed by Chief Justice Altamas Kabir listed the matter for hearing on Monday. The counsel for Sahara told the bench that the company was ready with a draft of Rs 5,100 crore for deposit in the apex court's registry.In their appeal, two Sahara Group firms had sought the Tribunal's intervention in refund of investors' money and had accused market regulator SEBI of wrongly charging them of non-compliance with a Supreme Court order in that regard.The Tribunal, however, said that any further direction in the case could be sought and granted by the Supreme Court alone and dismissed the appeal.
News On AIR | November 30, 2012 12:53 PM
Sahara Group moves SC against dismissal of appeal by SAT in investor refund case