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Sahara chief travel plea

New Delhi, Jan. 2: The Supreme Court today asked the Securities and Exchange Board of India (Sebi) to file its counter affidavit on Sahara chief Subrata Roy’s plea seeking permission to travel abroad.

A bench of Justices K.S. Radhakrishnan and J.S. Khehar passed the order after senior counsel A. Sundaram, appearing for Roy, urged the court to permit the Sahara chief to travel to London and some other places for business deals.

On November 21, the apex court had restrained Roy from leaving the country or disposing off any of the company’s assets as he failed to provide title deeds of properties worth Rs 24,000 crore as directed by the court.

Sebi had complained that the company had submitted photocopies and not the original title deeds, prompting the court to restrain Roy’s foreign travel and asking Sahara not to dispose of any property.

Return assurance

The senior counsel today assured the court that Roy was willing to give an undertaking to return back to the country if and when his presence was sought by the bench or Sebi.

“I am willing to present myself (Roy) within three days of any notice for my appearance,” he told the bench.

Following this, the court asked Sebi’s counsel R. Pratap to file a counter affidavit explaining its stance on the plea.

The apex court had on Aug 31, 2012, declared two Sahara investment schemes as illegal and asked the company to return the money with interest to investors through Sebi.

 
 
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