The apex court also asked Sahara to provide a list of unencumbered properties by February 20 hinting that they also could be put to public auction
Sahara has so far paid a little over Rs 11,000 crore and had sought time till July 2019 to deposit the balance of Rs 14,779 crore with the SEBI. It deposited a little over Rs 600 crore with SEBI on Monday.
However, the court said that the repayment roadmap extending till July 2019 is too long and it wanted to auction the properties to realise the dues.
On January 12 the Supreme Court took a serious note of Roy’s plea for extention of time to deposit Rs 600 crore saying he would have to go to jail in case of a default and did not pay up by February 6, that is today.
Written and Published by www.livelaw.in/