Sahara to deposit Rs 200 cr, seeks advancement of hearing

Sahara Group on Thursday told the Supreme Court that it would deposit Rs 200 crore with market regulator SEBI in pursuance of an earlier apex court direction and sought advancement of the hearing in the case.

“We will be happy to hear it”, a bench comprising Justices A R Dave and A M Khanwilkar said when senior lawyer Kapil Sibal, appearing for Sahara Group chief Subrata Roy, said Rs 200 crore which was to be deposited by October 24 would be submitted tomorrow.

Sibal, assisted by lawyer Keshav Mohan, mentioned the matter and sought that it be heard tomorrow instead of October 24, the date already fixed earlier by the bench. “We will inform about this request to the Chief Justice,” the bench said.

The SEBI-Sahara dispute is being heard by a three-judge bench comprising the CJI, Justice Dave and Justice A K Sikri.

The court, on September 28, had asked Sahara to deposit another Rs 200 crore by October 24 while extending the interim order releasing Roy and two other directors on parole.