In Brief
This judgment concerns multiple interlocutory applications in the SEBI v. Sahara case, addressing compliance with a Court order to deposit approximately Rs. 1,300 crores. The contemnor had deposited Rs. 790.18 crores through cheques and demand drafts. The Court extended the deadline by 10 working days to deposit the remaining balance (Rs. 709.82 crores) by 4th July 2017, warning of custodial action for non-compliance. It granted permission to sell Grosvenor House Hotel by share transfer but directed that the Haridwar property be auctioned by SEBI at 90% of circle rate rather than permitted private sale at lower rates. Prayers for accepting property as security and lifting embargoes were rejected. Terms and conditions for Amby Valley property sale were deferred for the next hearing."
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