Sahara moves SC for postponement of hearing against it

Sahara group today appraoched the Supreme Court seeking postponement of the scheduled hearing on April 22 on SEBI's plea seeking its permission to detain Sahara Group's chairman Subrata Roy Sahara and to initiate contempt proceedings against him for not complying with its orders to refund Rs 24,000 crore to investors.

A bench headed by Justice K S Radhakrishnan said it will sit on April 22 and decide whether Sahara's plea can be considered or not.

On March 15, SEBI had moved the apex court seeking the arrest of Sahara group promoter Subrata Roy Sahara and barring him from leaving the country after two companies of the group had failed to comply with court's order to refund Rs 24,000 crore to its investors.