SC hauls up SAT for restraining SEBI from taking action against Sahara cos
Moneylife Digital Team 17 July 2013
The apex court said that the high court and SAT shall not pass any order relating to its direction to Sahara group to refund Rs24,000 crore to investors 
 
The Supreme Court today hauled up the Securities Appellate Tribunal (SAT) for restraining the Securities and Exchange Board of India (SEBI) from taking coercive action against Sahara companies for not refunding Rs24,000 crore to investors.
 
It said that the high court and SAT shall not pass any order relating to its direction to Sahara group to refund Rs24,000 crore to investors.
 
The apex court said: “Comply with our order or we will direct personal appearance of companies’ directors and Sahara Group head Subrata Roy.”
Comments
Vaibhav Dhoka
1 decade ago
Timely hauled SAT.Tribunals and High courts are used as TIME PASS procedures by these MIGHTY PEOPLE.Such stance SC should take in many cases where it is clear that LITIGANT is misusing LEGAL PROCEDURES AND RIGHT.
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