Sahara Moves to Apex Court

New delhi: Sahara group Wednesday moved the Supreme Court pointing to the “illegal” detention of its chief Subrata Roy in a matter involving returning investors’ balance of Rs.19,000 crore that its two companies SIRECL and SHICL had collected through Optionally Fully Convertible Debentures (OFCD).

The apex court bench headed by Chief Justice P. Sathasivam said that it will hear the matter at 2 p.m. Wednesday after the same was mentioned by senior counsel Ram Jethmalani.

Subrata Roy was sent to judicial custody March 4 by the apex court bench of Justice K.S. Radhakrishnan and Justice J.S. Kehar for his failure to place before the court an acceptable proposal for securing the investors money.

Source: IANS