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2016 (10) TMI 371 - SUPREME COURT OF INDIA

2016 (10) TMI 371 - SUPREME COURT OF INDIA - TM - Deposit of amount towards the liquidation of the outstanding liability - Held that:- There is some confusion about the total amount payable by Saharas and the amount actually deposited by them so far. The figures being cited at the Bar need reconciliation. We direct that Saharas shall reconcile the figures with SEBI and file a joint statement as to the amount already deposited. SEBI may also after giving credit of the amount so deposited indicate .....

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he interim arrangement already made till 24th October, 2016 on the condition that the Saharas/contemnors shall deposit with SEBI a further sum of ₹ 200/- crores (Rupees Two hundred Crores only) during the intervening period. We make it clear that in case the deposit is not made, the Saharas shall stand committed to jail on 24th October, 2016, the date fixed for the next hearing. - I.A.NOS. 221-223/2016 in CONMT.PET.(C) No. 412 & 413/2012 In C.A. No. 9813 & 9833/2011 AND C.P. (C)NO.260/2013 .....

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Mr. Nikhil Jain, Adv., Mr. Simranjeet Singh, Adv., Mr. Salim Inamdar, Adv., Mr. Gautam Talukdar, Adv., Mr. Ram Sajan Yadav, Adv., Mr. Vijay Kumar, Adv., Mr. Sarthak Nayak, Adv., Mr. Pravin Bahadur, Adv., Mr. Amit Agarwal, Adv., Mr. Rajan Narain, Adv. For The M/o Law and Justice and Income-Tax Deptt. : Mr. Tushar Mehta, ASG, Mr. Rana Mukherjee, Sr. Adv., Ms. Sadhna Sandhu, Adv., Mr. M.K.Maroria, Adv., Mr. D.L.Chidananda, Adv., Mr. Rajat Nair, Adv., Mr. M.K.Maroria, Adv., Mr. B.K.Prasad, Adv., Ms. .....

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/- crores which amount has been credited to the SEBI Sahara Refund Account. Regarding the remaining six properties, although certain amounts were received by SEBI from the prospective purchasers, SEBI is going to refund the amount back to the prospective purchasers. He submits that 13 other items of property which are un-encumbered have been advertised for sale on E- auction and the progress made on that front shall be reported to this Court by the next date of hearing. Mr. Sibal seeks some time .....

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