Despite Sahara denials of benami transactions, Judge JS Khehar, one of the two judges on the bench, observed: “Despite restraint, one is compelled to record that the whole affair seems to be doubtful, dubious and questionable. Money transactions are not expected to be casual, certainly not in the manner expressed by the two companies.”
After the investigation, it was clarified that Sahara Group was suffering from lack of corporate governance.
