Comments
Sahara Group chief Subrata Roy will not be allowed to leave the country with the Supreme Court today refusing to relax its order restraining him from going abroad till his company furnishes details of refunding Rs 20,000 crore of investors money.
A bench of justices K S Radhakrishnan and J S Khehar said that it will allow him to leave the country only when the Sahara group furnishes all the documents to reveal the source of Rs 22,885 crore which it claimed to have refunded to its investors.
It said that if the company failed to show the source of the money then it would direct “further probe” against the group and brushed aside an impassioned plea of Roy’s counsel who submitted that his client be allowed to go abroad for business purposes and he will return before the next date of hearing.
“Everything is going in a circle. We want to finish this aspect of the case on the next date of hearing,” the bench said adding “If you give the source then a day after we would allow you to go abroad“.
The bench said that delay is on the part of the company to furnish details and directed the group to place all the documents including the bank statements sought by SEBI before February 11 when it would take up the case for further hearings.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.