Taking a dig, market regulator SEBI on Friday moved the Supreme Court for arrest of Sahara group Chief Subrata Roy Sahara.
The regulator has filed a petition seeking to prevent Mr Roy from leaving the country, reports said.
Legal dispute of SEBI-Sahara is likely to be heat up more as Mr. Roy along with two directors in his companies may be asked to deposit passports in court.
The move has come after two companies of Sahara Group- Sahara India Real Estate Corporation (SIREC) and Sahara Housing Investment Corporation (SHIC)– failed to follow court’s order to refund Rs 24,000 crore to its investors by first week of February.
In petition, SEBI requested SC to “take measures for arrest and detention in civil prison of promoter of Sahara Subrata Roy Sahara and the two male directors—Ashok Roy Choudhary and Ravi Shankar Dubey —after giving reasonable opportunity of hearing,” source said.
The regulator urged court to set early hearing date and now, the hearing of the case will be in the first week of April by apex court.
