Sahara seeks modification of SC order on Subrata Royhttps://indianexpress.com/article/news-archive/web/sahara-seeks-modification-of-sc-order-on-subrata-roy/

Sahara seeks modification of SC order on Subrata Roy

Failure to comply would mean that its head,Subrata Roy, and other directors would not be allowed to leave the country.

Sahara Group on Tuesday moved the Supreme Court,seeking a modification in the court order that restrained Subrata Roy and other directors from leaving the country “till” it hands over title deeds of its properties worth Rs 20,000 crore to the Securities and Exchange Board of India (Sebi).

Claiming a typographical error in the order that was uploaded on the court website,senior advocate CA Sundaram,appearing for the group,submitted that the court had said that they will be restrained “if” they do not hand over the deeds and not “till” they do not give it to the Sebi.

“In present,I (Roy) am restrained from leaving India whereas this was not what the court said in its order. I have some business meetings abroad so a clarification is required,” Sundaram said.

A bench of Justices KS Radhakrishnan and AK Sikri however told him that another bench had passed this order and hence only that bench could modify this order now. The bench comprising Justices Radhakrishnan and JS Khehar had passed the order a day ago.

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Stating that Sahara was playing “hide and seek” and cannot be trusted any more,the apex court had Monday directed the group to hand over title deeds of its properties worth Rs 20,000 crore to Sebi within three weeks for refunding its around 3 crore investors.

The bench also warned the company that failure to comply would mean that its head,Subrata Roy, and other directors would not be allowed to leave the country without its permission. warning that failure to comply would mean Roy cannot leave India.