Sahara chief Subrata Roy
Sahara group chief Subrata Roy has been asked by the Supreme Court to appear before it on February 28 after failing to deposit Rs 25,700 crore in the SEBI-Sahara case for returning investors' money.
The apex court said six months were given to Sahara by its last order to arrange the amount but what has transpired during the period has not inspired the confidence of the court.
The group has deposited only Rs 15,000 crore, a bench headed by Chief Justice Ranjan Gogoi said today.
The bench, also comprising Justices A K Sikri and S K Kaul, declined to give any further chance to Roy and other directors to comply with its previous orders.
It said it had decided to proceed with the matter so that the law takes its own course and directed Roy and other directors to appear before it personally on next date of hearing.
(With PTI inputs)
