Leisure, Lifestyle & Wellness
Sanjay Dutt exploring option of review petition

The Supreme Court had on 21st March upheld Sanjay Dutt’s conviction under Arms Act and sentenced him to five years in jail of which he has already served 18 months

Bollywood actor Sanjay Dutt, ordered by the Supreme Court to complete his five years sentence for complicity in the 1993 Mumbai blasts, is exploring the option of filing a review petition against the judgement, sources close to him said today.

 

The Supreme Court had on 21st March upheld Sanjay Dutt’s conviction under Arms Act and sentenced him to five years in jail of which he has already served 18 months.

 

In keeping with the order to surrender within four weeks, he has to give himself up before the designated TADA court by 18th April.

 

The actor has the option of filing a review petition and, in the event of failing to get relief, he can file a curative petition, the sources said.

 

While review petition comes up before the same bench which heard his appeal against the trial court’s order sentencing him to prison, the curative petition is heard by a larger bench.

 

Though the actor can also seek pardon from the state governor, he has gone on record to say he would not.

 

Amid a growing clamour for his clemency, Sanjay Dutt, 53, had told the media on 28th March that he would not apply for pardon.

 

“There are many other people who deserve pardon. I want to tell with folded hands to the media, the honourable citizens of the country, that when I am not going for pardon then there can be no debate about it,” Sanjay Dutt, who repeatedly broke down during his interaction with the press, said.

 

Governor K Sankaranarayanan had earlier this month sent over 60 representations and petitions received by him from various individuals and organisations, both seeking and opposing clemency for Dutt, to the state home department.

 

These petitions included those from PCI chief Markandey Katju and expelled Samajwadi Party leader Amar Singh.

 

Meanwhile, racing against time, the actor has set up a dubbing studio at his home and is trying to finish all pending projects.

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Subrata Roy continues his tirade against SEBI after personal appearance

The Sahara group chief and three others made a personal appearance before SEBI. However, Mr Roy continued his tirade saying that the market regulator was more worried about his personal assets than refunding the money to investors of Sahara

 
Sahara group chief Subrata Roy and three other top executives on Wednesday made a personal appearance before market regulator Securities and Exchange Board of India (SEBI). However, after meeting with SEBI officials, the Sahara group chief once again alleged that the market regulator was more interested in knowing his personal assets than refunding money to its investors.
 
Speaking to media persons after the meeting, Mr Roy said, “My personal assets appear to have troubled SEBI. I was asked about my personal assets and I told them that I have declared all my assets.” 
 
While expressing concern over the delay in refund by SEBI, the Sahara group chief accused the market regulator of not having taken any steps for months to return the money to those investors who have not been refunded yet.
 
The market regulator sought information about their personal assets and investments in a case involving refund of Rs24,000 crore to over three crore investors of Sahara group companies.
 
SEBI, on 26th March had issued the summons to Mr Roy, and three directors Vandana Bhargava, Ashok Roy Choudhary and Ravi Shankar Dubey and wants to ascertain details of their personal assets as well as assets and investments of the Sahara group companies. 
 
During the meeting today, which lasted for about an hour, the market regulator had also asked, Mr Roy and three other directors about the assets and investments of Sahara India Real Estate Corporation (SIRECL) and Sahara Housing Investment Corporation (SHICL). SEBI also asked them to produce original title deeds of all assets and investments of the two Sahara group companies. 
 
The Sahara group claimed that it had already returned a bulk of the total Rs24,000 crore to investors directly and its total outstanding liability was less than Rs5,120 crore given to SEBI towards investor refund.
 
In its summons, SEBI has threatened to settle ex-parte the terms of proclamation of sale of their and the companies’ assets, in case, the Sahara executives decide not to appear before it.
 
Earlier, on 13th February, SEBI passed two separate orders, together running into 160 pages, directing attachment of properties and freezing of accounts. It had said that in furtherance to a Supreme Court order directing refund of investors’ money collected by the two Sahara group companies, it ordered “attachment of all moveable and immoveable properties, bank accounts and demat accounts of these two companies and that of its promoters and directors Subrata Roy, Vandana Bhargava, Ashok Roy Choudhary and Ravi Shankar Dubey”.
 
It was after the Supreme Court said that the regulator was free to freeze the accounts and attach properties if the Sahara firms were not complying with the apex court’s earlier orders of August 2012 towards refund of investors’ money totalling over Rs24,000 crore.
 
The assets ordered to be attached included those related to the group’s Aamby Valley resort town near Pune, other real estate assets in Delhi, Mumbai and at other places across the country, shares, mutual funds and various other investments.
 
Passing the attachment orders, SEBI said that the two companies had raised Rs6,380 crore and Rs19,400 crore, respectively from bondholders and “various illegalities” were committed in raising of these funds.
 
On various occasions, the Sahara group had accused SEBI and its top officials, including UK Sinha of not providing an opportunity for a meeting to present its points of view.
 
Last week too, Sahara in a statement had accused SEBI chief UK Sinha of not providing it an opportunity since last one year. Sahara said that “rich men’s SEBI do not understand, recognise poor Investors”. 
 
Meanwhile, three independent members of the Sahara group have resigned from the boards of various group companies. This includes, Amitabha Ghosh, former deputy governor of Reserve Bank of India (RBI), S Mohan, retired judge from the Supreme Court and AC Mukherhee, former chairman of New India Assurance Company.
 
Mr Ghosh was on the board of Sahara Life and Sahara Prime City, besides being on the Board of Trustees of Sahara Mutual Fund. Mr Mukherjee was an independent director on the board of Sahara Life, while Mr Mohan was an independent member on the Board of Trustees of Sahara Mutual Fund.
 

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COMMENTS

CA PRADEEP AGARWAL

4 years ago

What is bugging Mr Roy, incase clean, action will speak itself, and not words, wrong words if spoken can land him in trouble.

skp

4 years ago

Sahara must be sued for Financial criminal offence and CBI should now probe the case. SEBI should refund the deposited amount to identified investors.Why unnecessary delay??

Rakesh

4 years ago

How much money does this guy has?
He can control everything, no one has yet to take any action against him. SEBI is behind him since last few months.
All corrupt people.

manoharlalsharma

4 years ago

Where are 100d's of listed compnise?diapeared with 1000n'ts crores.this prob only mean that person who do not wan't support illegal wants of politicos.

Arun Mehta

4 years ago

Saharsshri has bowled a googly at SEBI declaring a mere asset of 3 Crs.

Arun Mehta

4 years ago

The true disciple of "Bharat Mataa" has finally been forced to give due recognition to SEBI by his gracious presence before SEBI along with his Co-Directors.At this stage one can only imagine as to what could have transpired.For one thing is sure one can expect a new series of full page Press ad to put forth his side of the story to the denizens/subjects of "Bharat Mataa"

REPLY

sachchidanand

In Reply to Arun Mehta 4 years ago

it is horrendous even to think that the biggest sponsor of sports , Sahara, is made to sweat out at SEBI office ! I am sure the sports in India will suffer greatly, if Sahara stops spending on sports. BCCI must be nervous & all sports bodies must be shievering !

Arun Mehta

4 years ago

The true disciple of "Bharat Mataa" has finally been forced to give due recognition to SEBI by his gracious presence before SEBI along with his Co-Directors.At this stage one can only imagine as to what could have transpired.For one thing is sure one can expect a new series of full page Press ad to put forth his side of the story to the denizens/subjects of "Bharat Mataa"

Vaibhav Dhoka

4 years ago

Is SAHARA chiefs accusation CONTEMPT of SC order?

Car sales in India likely to expand 3-5% in FY14: SIAM

In 2012-13, sales of passenger cars fell to 18,95,471 units from 20,31,306 units in the previous fiscal

Passenger car sales in India are forecast to grow 3%-5% in the ongoing fiscal on expectations of an improvement in overall macro-economic conditions, despite witnessing a fall of 6.69% during 2012-13, the Society of Indian Automobile Manufacturers (SIAM) today said.

 

The industry body also said total sales of all vehicles in the country during 2013-14 will grow by 6%-8% per cent with contributions from almost all segments.

 

“There are concerns and uncertainties for the future, but there is also hope. In recent times, we have seen some positive policy decisions from the government. Macro-economic recovery is also expected,” SIAM president S Sandilya told the media.

 

Besides, he said a slew of new models are also expected that will “excite the market” and models with upgraded features may help the car segment to register better sales in this fiscal.

 

Pointing out that the buying pattern of customers is changing from small cars to bigger cars and utility vehicles, Sandilya said, “The utility vehicle (UV) sales will continue to increase at a good rate on account of new model launches by many players.”

 

According to its projections for 2013-14, passenger car segment is pegged to grow by 3%-5%, while the UV segment is likely to go up by 11%-13%.

 

“Overall, the passenger vehicle sales are estimated to rise by 5%-7% in this financial year,” he added.

 

In 2012-13, sales of passenger cars fell to 18,95,471 units from 20,31,306 units in the previous fiscal.

 

SIAM, however, had projected the car sales to grow by 10%-12% at the beginning of last fiscal that was later revised downwards thrice during the year. In its last forecast in January this year, car sales growth projection was lowered to just 0%-1% for last fiscal, but it was missed.

 

Outlining the concerns, Sandilya said the current slow economic growth, general low sentiment of the public, high interest rates and high fuel prices, mainly petrol, can impact sales of vehicles during the current fiscal.

 

On the overall vehicles sales, he said auto sales of all categories are estimated to rise by 6%-8% in 2013-14.

 

Sandilya mentioned SIAM has forecast the two-wheeler segment to register a growth of 6%-8% in 2013-14.

 

“We are seeing a revival of scooter demand and it is growing with new models being launched. Sales of motorcycles depend a lot on rural sentiments,” he added.

 

Talking about the commercial vehicle segment, Sandilya said the manufacturers are likely to see an overall growth of 7%-9%, primarily led by light commercial vehicles, which is estimated to rise 10%-12% in FY14.

 

“The concern is medium and heavy commercial vehicles, which is projected to rise 1%-3%. The sales are likely to remain sluggish over the next few quarters with probably marginal recovery during the second half,” he added.

 

Sandilya, however, said the SIAM forecast will be dependent on many factors such as monsoon, government policies, stability of government at the Centre, international crude prices and currency fluctuations.

 

“The probability of meeting the forecast is 0.7, which is two-thirds,” he added.

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