Supreme Court Refuses To Extend Sahara’s Deadline For Payment Of Rs 552 Crore
By Team Legistify / 2017-07-11

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The Supreme Court on Wednesday dismissed Sahara’s plea seeking an extension to make its next payment of Rs 552 crore in the SEBI-Sahara account.

The Subrata Roy-led group deposited Rs 700 crore on Wednesday, thereby fulfilling its commitment to pay Rs 1,500 crore by July 5, albeit after being granted a 10-day extension . Sahara now needs to pay another Rs 552 crore by July 15.

Sahara counsels, Senior Advocates Mukul Rohagti and Kapil Sibal, sought extension of this deadline till August 30 but the bench of justices Dipak Misra, Ranjan Gogoi and AK Sikri declined the request.

Roy’s bail has been extended till July 20, which is also the next date of hearing.

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