The Supreme Court on Tuesday rejected a plea by Sahara Group chief Subrata Roy seeking exemption from personal appearance in court on Wednesday.
A bench of justices K S Radhakrishnan and J S Khehar rejected the plea.
Coming down heavily on the Sahara group for not refunding Rs 20,000 crore of investors money despite its order, the Supreme Court had summoned Roy to be personally present before it and allowed SEBI to go ahead with the sale of companies’ properties.
The apex court had also directed Ravi Shankar Dubey, Ashok Roy Choudhary and Vandana Bhargava, directors of its firms -- Sahara India Real Estate Corp Ltd (SIREC) and Sahara India Housing Investment Corp Ltd (SHIC) -- to appear before it on February 26.
The apex court in its judgement of August 31, 2012 had directed SEBI to attach properties and recover the money.
