Its Supreme Court vs Subrata Roy now
NewsX
2019-03-01
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The Supreme Court on Friday said the Sahara Group's proposal to pay the entire amount to SEBI in cash instalments of Rs.2,500 crore each at regular intervals of three months was not acceptable.
The proposal is not proper and you must come out with honourable proposal," the SC said.
Sahara boss Subrata Roy will remain in judicial custody. SC says it will hear Sahara's plea on police custody on Tuesday. The apex court, however, allowed Sahara's financial consultants and lawyers to meet Roy in jail between 10 AM and 12 noon everyday.
The regulator Securities and Exchange Board of India (SEBI) opposed Sahara's proposal, saying the group intended to pay Rs. 17,000 cr but the total due amount is Rs. 37,000 cr.
The apex court had earlier on Friday said "the first instalment looks attractive".
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The proposal is not proper and you must come out with honourable proposal," the SC said.
Sahara boss Subrata Roy will remain in judicial custody. SC says it will hear Sahara's plea on police custody on Tuesday. The apex court, however, allowed Sahara's financial consultants and lawyers to meet Roy in jail between 10 AM and 12 noon everyday.
The regulator Securities and Exchange Board of India (SEBI) opposed Sahara's proposal, saying the group intended to pay Rs. 17,000 cr but the total due amount is Rs. 37,000 cr.
The apex court had earlier on Friday said "the first instalment looks attractive".
For More information on this news visit : http://www.newsx.com/
Connect with us on Social platform at : http://www.facebook.com/newsxonline
Subscribe to our YouTube Channel : http://www.youtube.com/newsxlive
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