Research › Browse › Judgment

Supreme Court of India · body

2014 DIGILAW 31 (SC)

S. E. B. I. v. Sahara India Real Estate Corporation Ltd.

2014-01-09

JAGDISH SINGH KHEHAR, K.S.RADHAKRISHNAN

body2014
JUDGMENT : 1. Heard counsel on either side. 2. Mr. C.A. Sundaram, learned senior counsel appearing for one of the alleged contemnors, submitted that earlier this Court on December 11, 2013 has only reiterated the submission made by Mr. Arvind Datar, learned senior counsel appearing for SEBI, that they did not disclose the source from which they got money for repayment, despite SEBI's letter dated May 28, 2013. 3. Mr. Sundaram is right in his submission. However, we feel that it would be appropriate to give a direction of the nature stated above. 4. Accordingly, we direct the alleged contemnors to disclose the complete details and source from which they repaid the amount to the investors as also the manner of making payments. They shall also disclose the information which SEBI has sought from them from time to time. Such information shall be provided to SEBI and also be filed in this Court by January 23, 2014. 5. Put up on January 28, 2014 at 2.00 p.m. 6. In the meantime, SEBI shall verify the information provided to it by the alleged contemnors.