The Supreme Court has directed Sahara to submit a list of assets to be sold by September 5, 2023, to clear ₹10,000 crore owed to the SEBI-Sahara fund.
INVC NEWS
New Delhi : The Supreme Court said that Sahara India was given enough time to pay Rs 10,000 crore out of the total payment of Rs 25,000 crore. The court had ordered the company to pay Rs 25,000 crore in 2012. The court said, we have received information that the capital market regulator still has Rs 15,000 crore in the SEBI-Sahara fund. The Supreme Court was told that there is complete ambiguity about the remaining amount. A bench of Justices Sanjeev Khanna, Bela Trivedi and MM Sundaresh asked Sahara’s lawyer Kapil Sibal, more than 10 years have passed and you have not yet deposited the amount. SEBI is asking for the remaining Rs 10,000 crore. How are you going to pay the remaining Rs 10,000 crore.
Sahara’s lawyer Sibal said, the company did not get a fair chance to sell its assets because no one wants to lay hands on its properties. On this the court said that you were given enough chances. Justice Khanna clarified that there is no ban on the sale of assets. The court directed Sahara to prepare a list of assets that it can sell to pay Rs 10,000 crore by September 5.
