In Brief
The Supreme Court heard interim applications concerning Sahara India Real Estate Corporation's obligation to refund investor funds under SEBI direction. The Court permitted Sahara to sell unencumbered properties listed in Part 'A' and deposit ₹5,092.64 crores by 13 April 2017 in the SEBI Sahara Refund Account. For Ghaziabad land, the Court directed notice to Ghaziabad Development Authority before determining its compensation liability. It also conditionally allowed a third party's proposed purchase of Sahara's Plaza Hotel stake in New York, requiring ₹750 crores earnest money deposit and company credential verification."
The lawyer headnote and full judgment text are available to registered users.