The Securities and Exchange Board of India (Sebi) today approached the Supreme Court, accusing the Sahara Group of not complying with its order to furnish documents about its two companies which were directed to refund around Rs 24,000 crore to their investors.
Sebi filed an application alleging that the Sahara Group has not furnished all documents in their custody to the regulator by September 10, as required.
The court on August 31 had said that if the companies, Sahara India Real Estate Corporation and Sahara Housing Investment Corp-oration, failed to refund the amount, Sebi could attach properties and freeze bank accounts of the companies.
It had also asked the companies to refund the money to their investors within three months with interest.
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