SC orders Sahara to submit property deeds worth Rs 20000 cr

The Supreme Court on Monday came down heavily on the Sahara Group asking the company to stop playing hide and seek. The apex court asked Sahara to submit original property deeds worth Rs 20,000 crore to the Securities and Exchange Board of India (Sebi). SC warned that failure to do so will result in Subrata Roy and other directors of the group getting barred from traveling out of India.

Also Read: Why SC is running out of patience with Sahara's Subrata Roy

It was in August 2012 that the court had directed two Sahara Group firms to repay about Rs 17,000 crore to Optionally Fully Convertible Debentures (OFCD) investors and the amount after interest worked out to Rs 24,000 crore and till date only about Rs 5,000 crore have been deposited with Sebi by Sahara Group. The court on Monday emphasised that genuine investors will have to be repaid by the company and that there can be no escape in this matter.

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