Markets regulator Sebi has moved the Supreme Court seeking direction to Sahara conglomerate chief Subrata Roy and two of his companies to deposit Rs 62,600 crore that it said was due to its investors. Despite the top court granting various reliefs to Subrata Roy and his firms, they have neglected and failed to comply with various orders passed by this court, the Securities and Exchange Board of India (Sebi) said. Tycoon Subrata Roy was arrested in March 2014 for failing to attend a contempt of court hearing and has been on bail since 2016. Roy has so far deposited over Rs.15,000 crores, SEBI said in the court filing. Earlier, the apex court had noted that the Sahara group has already deposited around Rs 20,000 crore in the Sebi-Sahara account, which includes Rs 15,000 crore principal amount and Rs 4,800 crore interest.

Source: dna November 20, 2020 13:32 UTC