The Supreme Court will tomorrow hear Sahara Group’s petition against the orders of the Allahabad High Court, which directed the company to share with market regulator Sebi details of investors participating in its fund raising exercise. The matter will be heard by a 3-judge bench, headed by Chief Justice S H Kapadia.
On May 2, the apex court had adjourned the matter for a week after the group’s investment arm Sahara India Real Estate Corporation sought time to file documents.
The High Court had dismissed Sahara Group plea to vacate its earlier order, which allowed Sebi to collect information on two of its Optionally Fully Convertible Debentures (OFCDs) schemes.
On April 29, the court said the group had not complied with its order to provide the required information for Sebi.