November 22, 2024 18:14 (IST)
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Supreme Court permits Sahara to sell its assets to repay investors
New Delhi, July 11 (IBNS): The Supreme Court on Monday granted Sahara permission to sell any of its properties including those which have being given to SEBI for sell, with terms and condition.
"In that sense, we have a situation where the embargo upto certain extend has been lifted by the Hon’ble Supreme Court," an official statement from Sahara’s lawyer Gautam Awasthi said.
Apart from that the apex court also extended the temporary relief of Subrata Roy Sahara.
The court has directed SEBI to collect Sahara’s money from wherever they are laying which was mentioned in the application.
It said that it does not have any objection if the money raised by Sahara as a bridge loan in London may be bought to SEBI Sahara account.
Sahara founder Subrata Roy was arrested in 2014, after his company failed to return back the money it generated from the market.
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