Hyderabad: The Supreme Court has allowed the Sahara Group to operate some of its bank accounts, which had been frozen by the court earlier, and lifted embargo on the sale of certain properties.
“We are very thankful that on Thursday we got clearances of bank accounts and certain select properties. However the fact remains that Sahara has already repaid 93 per cent of the investors mostly in cash, and has submitted all the repayment vouchers, receipts and other documents in original with Sebi,” said Sahara Group lawyer Sudip Seth in a statement.
Though the advocate said that this decision has reassured them of justice of the Indian judiciary and that the it can never go wrong, he questioned the rationale behind seeking the payment of Rs 10,000 crore for granting bail to Sahara Group chairman Subrata Roy. “The question arises as to why Rs 5,000 crore cash and Rs 5,000 crore bank guarantee bail order was given without lifting any embargos and also Rs 10,000 crores bail amount has become a world record for bail,” Mr Seth said.
