Subrata Roy not liable for refunding Rs 24,000 crore: Sahara to SC

August 06, 2013 19:16

The Sahara group today told the Supreme Court that its chief Subrata Roy is not liable for refunding Rs 24,000 crore collected by its two firms from investors, countering the arguments of SEBI which wanted his passport to be impounded till the contempt plea against him and companies is decided.

Senior advocate Ram Jethmalani, appearing for a Sahara firm facing contempt for not refunding the amount as per apex court order, submitted that the redemptions have already been made by Sahara firms.

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