News India SC rejects Sahara proposal, Roy to remain in Tihar Jail

SC rejects Sahara proposal, Roy to remain in Tihar Jail

New Delhi: Calling it an insult after making it assemble a special bench, the Supreme Court today ticked off the Sahara group for not coming out with a proper proposal for refunding Rs.20,000 crore of



The matter was initially mentioned before a bench of Justices Radhakrishnan and Vikramajit Sen in the morning but it refused to look ito the proposal on the ground that SEBI was not given a copy of the proposal.

It directed the group to furnish the copy of the proposal to counsel of the market regulator and said that it would hear the matter at 11:30 am.

The lawyers again assembled at 11:30 AM and Justice Radhakrishnan then went through the proposal and agreed for assembling  of the special bench to consider the proposal.

Justice Radhakrishnan said “the first instalment looks attractive”.

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