New Delhi, Jan 9 (IANS) The Supreme Court Monday admitted a plea by two Sahara group companies challenging the Securities Appellate Tribunal’s order directing it to refund Rs.17,400 crore it had mopped up from 2.3 crore investors and ordered the continuation of its interim stay on the tribunal’s direction.
The apex court bench of Chief Justice S.H. Kapadia, Justice A.K. Patnaik and Justice Swatanter Kumar admitted the plea after it was told that an affidavit had been filed by the two companies giving details of their financial status and assuring that the interest of the 2.3 crore investors would be protected.
Two Sahara group companies – Sahara India Real Estate Corp and Sahara Housing Investment Corp – filed the affidavit on apex court’s direction of Nov 28, 2011.
