In Brief
In this interlocutory application, Sahara India Real Estate Corporation sought modification of a Supreme Court order dated 28th November 2016, which directed it to deposit Rs. 600 crores by 6th February 2017 with a threat of imprisonment for non-compliance. The Court refused to extend the deadline but permitted Sahara to transfer Rs. 285 crores held in its London bank account to the SEBI Sahara Refund Account, as SEBI and the Union of India did not object. The application was dismissed with all prior directions reaffirmed.">
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