April 13, 2013 8:46 AM

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SAT to hear Sahara plea against Sebi today

Securities Appellate Tribunal, SAT will begin today hearing on Sahara group chief Subrata Roy's plea against SEBI's order to attach many of Sahara's properties and bank accounts. The SAT will hold preliminary hearing of four petitions related to the high-profile refund case of over 24,000 crore rupees, allegedly raised through various illegalities by two of Sahara companies. The petitions have challenged Sebi's order attaching bank accounts, investments and other assets of the two companies and their four top executives, including Mr Roy, to eventually sell them for recovering required funds for the investor refund as per a Supreme Court order.

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