March 26, 2013 1:46 PM

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SAT adjourns hearing on Sahara Roy plea against SEBI attachment order

The Securities Appellate Tribunal, SAT, today adjourned its hearing till April 13 on Sahara group Chief Subrata Roy's plea against SEBI's attachment order of his bank accounts and other assets.
Roy had approached the SAT against the attachment orders issued by Sebi last month. The Tribunal, in its last hearing in Mumbai on March 23, had decided to hold its final hearing in the matter in Delhi on March 26. However, SAT today decided to take up the matter again on April 13, along with all the related petitions in the case.

The case is related to a Supreme Court direction ordering refund of investors' money raised by two Sahara group firms Sahara India Real Estate Corp Ltd and Sahara Housing Investment Corp Ltd — through bonds. After expiry of the court-set deadline for the refund, Sebi in February issued attachment orders against the two firms and their top executives, including Subrata Roy.

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