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India


Apex court grants partial relief to Sahara chief

Apex court grants partial relief to Sahara chief

New Delhi, Jan 24 (UNI) The Supreme Court on Friday granted partial relief to Sahara chief Subrata Roy Sahara and said he may not appear personally, but at the same time, declined to withdraw Delhi police security on him.

A bench, headed by Chief Justice of India SA Bobde, heard submissions and arguments from Vikas Singh, lawyer of Roy and from Sebi side, Arvind Sattar and Pratap Venugopal.

"We allow your petition not to appear personally in the case," Apex Court said.

It, however, refused to withdraw the Delhi police security on him.

SEBI, the Securities and Exchange Board of India, told the top court that the personnel were deployed at his expenditure to ensure his presence and not provide police protection.

The Sahara chief was present inside the courtroom in connection with the payment of money to its investors, in which the SEBI was arguing for investors before Apex Court today.

Sahara has claimed that it had refunded all the money to its investors, a contention opposed by the SEBI.

At present out on bail in connection with contempt of court proceedings case, Subrata Roy Sahara was in Tihar jail for around an year and nine months.

UNI XC RP1824

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