Contempt case: SC rejects Subrata Roy's plea for exemption from court
This comes a week after the Supreme Court allowed SEBI to go ahead with the sale of Sahara's properties.
New Delhi: In a setback to Subrata Roy, the Supreme Court on Tuesday rejected the Sahara chief's plea seeking exemption from personal appearance in a contempt case. The court said that the matter involved not just the integrity of it but also of the judges and lawyer. The judges in court further added, "We may retire but will ensure that our orders are complied with."
This comes a week after the Supreme Court allowed SEBI to go ahead with the sale of Sahara's properties. The court had on February 20 came down heavily on the Sahara group for not refunding Rs 20,000 crore of investors money despite its order and summoned Roy to be personally present before it.
The apex court in its judgement of August 31, 2012 had directed SEBI to attach properties and recover the money.
Sending a clear message that the court is not "helpless" in taking action for flouting its directions, the apex court had on November 21 last year barred Roy from leaving the country and also restrained the group from selling any of its properties.
(With additional information from PTI)