Supreme Court asks Sahara to submit title deeds

The Supreme Court directed the Sahara Group to give original title deeds of its assets to SEBI.

Published: 28th October 2013 04:16 PM  |   Last Updated: 28th October 2013 05:03 PM   |  A+A-

Subrato Roy-PTI

The Supreme Court Monday directed the Sahara Group to give original title deeds of its assets worth Rs.20,000 crore to SEBI as a guarantee towards the payment of investors money amounting to Rs.24,000 crore, which its two real estate companies have collected under optionally fully convertible debentures (OFCD).

Sahara has already paid Rs.5,000 crore to the Securities and Exchange Board of India (SEBI).

The apex court bench of K.S. Radhakrishnan and Justice J.S. Khehar said Sahara Group will submit its original title deeds to SEBI along with their valuation reports.

Court has given the Sahara Group three weeks' time till Nov 11 to comply with its order.

The court said that in case of failure to submit original title deeds of their assets worth Rs.20,000 crore to the market regulator within three weeks, Sahara chief Subrata Roy and other directors, who have been named as contemnors, will not leave the country without prior permission of the court.


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp