The title deeds to assets worth Rs.20,000 crore would cover the amount that the Sahara Group has to give to SEBI (Securities and Exchange Board of India) to return to investors the Rs.24,000 crore that its two real estate and finance companies had collected.
Senior counsel C.A. Sundaram, representing the Sahara Group, told the apex court bench headed by Justice K.S. Radhakrishnan that there was an error in the court's order as it wanted to say: "If we don't comply with the order, the alleged contemners will be restrained from leaving the country after three weeks but the order instead says till we comply with order."
This is not what court had intended to say, Sundaram told the court.
At this, Justice Radhakrishnan said it was not the bench which had passed the order and said he will consult Justice J.S. Khehar and consider the plea for modifying the order.
--IANS (Posted on 29-10-2013)