Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

Ready With Roadmap to Deposit Rs 12,000 Crore by December 2018: Sahara to SC

Embattled Sahara Group on Friday told the Supreme Court it was ready with a roadmap to deposit the remaining amount of Rs 12,000 crore in the SEBI-Sahara account by December 2018 to be refunded to the investors.

Press Trust Of India

Updated:October 21, 2016, 8:32 PM IST
facebookTwitter Pocket whatsapp
Ready With Roadmap to Deposit Rs 12,000 Crore by December 2018: Sahara to SC
Sahara Group chief Subrata Roy (FILE PHOTO)

New Delhi: Embattled Sahara Group on Friday told the Supreme Court it was ready with a roadmap to deposit the remaining amount of Rs 12,000 crore in the SEBI-Sahara account by December 2018 to be refunded to the investors.

The group told a bench headed by Chief Justice TS Thakur that the road map has been shared with market regulator SEBI and amicus curiae and senior advocate Shekhar Naphade.

The bench then continued with the interim bail and other arrangements granted to Sahara Group chief Subrata Roy till November 28.

Earlier, the top court had said it had been "taken for a ride" by the Sahara group through its past conduct and had directed it to submit a roadmap to pay the balance amount of Rs 12,000 crore to SEBI, while extending the parole of Roy and others till October 24 on payment of Rs 200 crore.

Senior advocate Kapil Sibal, appearing for the group, on Friday told the bench, which also comprised Justices AR Dave and AK Sikri, that they have deposited Rs 200 crore with SEBI in pursuance to an earlier apex court direction.

The bench said Sahara has to deposit another Rs 200 crore by November 28 so that the interim arrangement could continue. Sibal said the group was ready with Rs 15 crore and the remaining amount of Rs 185 crore would be deposited by the next date of hearing.

The court also allowed the group to re-auction certain properties in Ajmer, Firozabad, Vellore, Tiruchirappalli and Ujjain for which the bidding was at a much higher price.

The bidding could not be taken to the logical conclusion at that time due to some legal impediments because of income tax issues.

The group had on Thursday told the apex court that it would deposit Rs 200 crore with SEBI in pursuance of the earlier direction and had sought advancement of hearing in the case.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

| Edited by: Nitya Thirumalai
Read full article
Next Story
Next Story

facebookTwitter Pocket whatsapp
Most Active
Company Price Change %Gain
ICICI Bank 536.35 0.45
HDFC Bank 1,212.90 -2.51
Wockhardt 352.90 18.01
Dr Reddys Labs 3,188.95 5.31
PI Industries 1,541.40 2.85
Top Gainers
Company Price Change %Gain
M&M 578.30 1.85
UltraTechCement 4,690.00 1.05
Tech Mahindra 791.30 0.50
ICICI Bank 536.35 0.45
Axis Bank 740.00 0.37
Top Losers
Company Price Change %Gain
Tata Steel 462.40 -4.31
IndusInd Bank 1,271.60 -3.37
HDFC Bank 1,212.90 -2.51
SBI 316.20 -2.42
Power Grid Corp 192.50 -2.26

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results