New Delhi, May 17 (PTI): A new bench has been constituted in the Supreme Court to hear the Sahara case which will take up the matter on May 19.
The new bench, of justices T.S.Thakur and A.K.Sikri, was set up after J S Khehar recused himself from hearing the matter.
The entire case was earlier being heard by a bench of Justice K.S.Radhakrishnan and Justice Khehar since 2012. But the Chief Justice of India R.M.Lodha constituted a new bench after Justice Radhakrishnan retired on May 14 and Justice Khehar recused from the case.
At a farewell ceremony for him, Radhakrishnan had said he and family members were under “unimaginable pressure and tension” while hearing the case.
Justices Radhakrishnan and Khehar in its May 6 judgement had upheld its order jailing Sahara chief Subrata Roy and rejected his claim that rules of natural justice were not followed in the case.
Roy, who has been in jail since March 4 for non-refund of over Rs 20,000 crore to depositors, was asked by the court to make a fresh proposal for paying Rs 10,000 crore to get bail.
The court had passed the order on a petition filed by Roy challenging constitutional validity of its order passed on March 4 by which he was sent to jail for not complying with its order to deposit around Rs 20,000 crore of investors money with the Securities & Exchange Board of India (SEBI).
The bench in a strongly worded judgment had come down heavily on the Group for “systematically” frustrating and flouting all its orders with impunity on refunding investors' money.
It had said the Group “adopted a demeanour of defiance constituting a rebellious behaviour, not amenable to the rule of law” and justified its decision to send Roy along with two promoters of two Sahara companies to jail.