It had allowed SEBI to go ahead with the sale of properties of the group whose sale deeds were handed over to the market regulator to recover Rs 20,000 crore.
“Those properties you can sell. We allow you to sell them and recover the money. If they are encumbered properties then you can file criminal case against the company. The case must be brought to a logical conclusion,” the bench had said.
It had raised question on the way the group has been defying its order for the last one-and-a-half years.
The bench had said SEBI can put those properties on auction and get the money after the market regulator had said that let the company itself sell the properties and deposit the money.
The apex court in its judgement of August 31, 2012 had directed SEBI to attach properties and recover the money.
Sending a clear message that the court is not “helpless” in taking action for flouting its directions, the apex court had on November 21 last year barred Roy from leaving the country and also restrained the group from selling any of its properties.
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