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2013 (1) TMI 202 - SUPREME COURTRefund amounts collected through RHPs - direction to furnish the details with supporting documents to establish whether they had refunded any amount to the persons who had subscribed through RHPs as directed in [2012 (9) TMI 559 - SUPREME COURT] dated 31st August, 2012 - whether the time for implementing the directions contained in the earlier order of 31st August, 2012, may be extended or not? - Held that:- Since, in the order of 31st August, 2012, it has been indicated that if any payments had been made, the details thereof, along with supporting documents, were to be submitted to SEBI to verify the same. Essentially, the appellants have failed on both counts, since neither the amount indicated in the order, together with interest @ 15% per annum, accrued thereon, has been paid, nor have the documents been submitted within the time stipulated in the said order. Appellants shall immediately hand over the Demand Drafts as produced in Court, to SEBI, for a total sum of Rs. 5120/- Crores and deposit the balance in terms of the order of 31st August, 2012, namely, Rs. 17,400/- Crores and the entire amount, including the amount mentioned above, together with interest at the rate of 15% per annum with SEBI, in two installments. The first installment of Rs. 10,000/- Crores, shall be deposited with SEBI within the first week of January, 2013. The remaining balance, along with the interest within the first week of February, 2013. The time for filing documents in support of the refunds made to any person, as claimed by the appellants, is extended by a period of 15 days. On receipt of the said documents, SEBI shall implement the directions contained in the order passed on 31st August, 2012 & if default occurs the directions contained in order dated 31st August, 2012, shall immediately come into effect and SEBI will be entitled to take all legal remedies, including attachment and sale of properties, freezing of bank accounts etc. for relisation of the balance dues.
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