Supreme Court questions source of money paid to investors by Sahara

Samarth Srivastava

Samarth SrivastavaBy Samarth Srivastava

Published on 3 Sep 2016 9:02 AM GMT

Supreme Court questions source of money paid to investors by Sahara
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New Delhi: Payment of several thousand crores of rupees by Sahara group chief Subrato Roy to investors in a small period of two months after his release from jail on parole has surprised the Supreme Court a great deal .

Hearing a petition moved on his behalf ,in a case filed by the Security and Exchange Board of India (SEBI) regarding non-payment ,on Friday, the apex court said “ you have collected and disbursed as much as Rs 23,000 crores in just two months. The court would like to know the sources from where this large sum has been collected”.

Possibly suspecting some foul play the court observed “money does drops from the heaven . So some individuals or groups or companies must have provided this large amount. It might have also come through loans by one company to another or by sale of property. The court would like to know from where it has come”.

It has fixed September 16 for the next hearing of the case.

The court has promised to wind up the case if a satisfactory reply is given to it. “We will close the case if the source is disclosed”.

It may be recalled that Roy who was in jail was released on parole following death of his mother in May last for four weeks. Later, the period was extended to September 16.

Samarth Srivastava

Samarth Srivastava

Employed as sub-editor at newstrack.com. A learner, who loves covering sports, entertainment and defence kind of stuff.

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