Supreme Court - Daily Orders
S.E.B.I. vs Sahara India Real Estate Corp. ... on 28 January, 2014
6&
ITEM NO.301(P.H.) COURT NO.7 SECTION XVII
S U P R E M E C O U R T O F I N D I A
RECORD OF PROCEEDINGS
Contempt Petition (Civil) No. 412 of 2012 in
Civil Appeal No. 9813 of 2011
S.E.B.I. Petitioner(s)
VERSUS
SAHARA INDIA REAL ESTATE CORPN.LTD.&ORS. Respondent(s)
(With appln(s) for stay and office report)
WITH
Contempt Petition (Civil) No. 413 of 2012 in CA No. 9833/2011
(With appln. for stay and office report)
IA Nos. 68-73 and 76-89 in CA No. 9813/2011
(With appln. for directions, appropriate orders, permission to file
addl. documents on record, clarification and office report)
IA No.1 in Contempt Petition (C) No..... in CA No. 9813/2011
(Appln. seeking permission to file contempt petition and office report)
Contempt Petition (Civil) No. 260 of 2013 in CA No. 8643/2012
Date: 28/01/2014 These matters were called on for hearing today.
CORAM :
HON’BLE MR. JUSTICE K.S. RADHAKRISHNAN
HON’BLE MR. JUSTICE JAGDISH SINGH KHEHAR
For Petitioner(s) Mr. Arvind P. Datar,Sr.Adv.
Mr. Pratap Venugopal,Adv.
Ms. Surekha Raman,Adv.
Ms. Meenakshi Chauhan,Adv.
Mr. Gaurav Nair,Adv.
For M/S. K.J. John & Co.
Mr. Vishwa Pal Singh,Adv.
For Respondent(s) Mr. Ram Jethmalani,Sr.Adv.
Mr. A. Dixit,Adv.
Mr. K.K. Lahiri, Adv.
Mr. Gaurav Kejriwal, Adv.
Mr. Keshav Mohan, Adv.
Mr. Simranjeet Singh, Adv.
Mr. Satish Kishanchandani, Adv.
Mr. Jatin Pore, Adv.
Mr. C.A. Sundram,Sr.Adv.
Ms. Rohini Musa,Adv.
Mr. Gautam Awasthi,Adv.
Mr. Ayush Choudhary,Adv.
Mr. Rakesh Dwivedi, Sr. Adv.
Mrs. Shally Bhasin Maheshwari,Adv.
Mr. Gagan Gupta,Adv.
Ms. Sumita Hazarika,Adv.
Ms. Manju Jetley,Adv.
UPON hearing counsel the Court made the following
O R D E R
Heard Mr. Ram Jethmalani, learned senior counsel and Mr. Arvind P. Datar, learned senior counsel.
Mr. Datar submitted that the Saharas have not disclosed the details as to when the refund was made. Reference was made to pages 6 to 9 of the reply affidavit filed today.
Mr. Datar further submitted that the SEBI requires an explanation from Saharas with regard to the payments made on behalf of Sahara India Real Estate Corporation Ltd. (SIRECL) (partnership firm) by the following firms, as mentioned below:-
Rupees (In Crores)
1. Sahara Credit Co-operative Society Ltd. 13,366.18
2. Sahara India Commercial Corporation Limited 4384.00
3. Sahara Q Shop 2258.32
4. Ketak City Homes Ltd. 19.43
5. Kirit City Homes Ltd. 44.05 Similarly, SEBI requires Saharas to show the following payments made on behalf of Sahara Housing Investment Corporation Ltd. (SHICL) (partnership firm), by the following firms, as mentioned below :-
Rupees (In Crores)
1. SICCL 2479.00
2. Sahara Q Shop 2411.90 Further, the Saharas will also provide the bank statements of the above firms showing when the amount was paid to the partnership firms and subsequently when and how partnership firm made the disbursement, as sought for by the SEBI.
Mr. Ram Jethmalani, learned senior counsel appearing for the respondents submitted that he will examine the same and come out with a response within a week.
Post on 11.02.2014 at 2.00 P.M.
|(NARENDRA PRASAD) | |(SHARDA KAPOOR) |
|COURT MASTER | |COURT MASTER |
1