Misc. Application No. 34 of 2013 in Appeal No. 42 of 2013. Case: Securities and Exchange Board of India Vs Mr. Subrata Roy Sahara, [Alongwith Misc. Application No. 35 of 2013 in Appeal No. 48 of 2013, Misc. Application No. 36 of 2013 in Appeal No. 49 of 2013 and Misc. Application No. 37 of 2013 in Appeal No. 50 of 2013]. Securities and Exchange Board of India

Case NumberMisc. Application No. 34 of 2013 in Appeal No. 42 of 2013
CounselFor Appellant: Mr. Prateek Seksaria, Advocate and Mr. Mihir Mody and Mr. Akhilesh Singh, Advocates and For Respondents: Mr. Pradeep Sancheti, Senior Advocate and Mr. Jatin Pore, Mr. Parag Khandhar and Mr. Dhawal Mohan, Advocates
JudgesJog Singh, Member
IssueSecurities and Exchange Board of India Act
Judgement DateApril 22, 2013
CourtSecurities and Exchange Board of India

Order:

Jog Singh, Member

  1. The four miscellaneous applications have been preferred by the respondents i.e. SEBI in the four appeals in question. These are stated to have been filed on Friday and a copy of each of them has been served upon the appellants on Saturday. That is how on mentioning, these miscellaneous applications are being taken up for hearing and disposal with the consent of the parties. Both the learned counsel for the parties have been heard. The prayers in the miscellaneous applications are common and are reproduced herein below for the sake of convenience:-

    In these circumstances, the Applicant is constrained to file the present Miscellaneous Application for the following reliefs:

    1. To vacate the interim direction dated 18th April, 2013 directing the Applicant not to precipitate matters and enable SEBI to fully comply with Direction 10 of the Order dated 31st August, 2012 passed by the Hon'ble Supreme Court;

    2. To direct the Appellant in his capacity as Promoter of Sahara Housing Investment Corporation Ltd. and Sahara India Real Estate Corporation Ltd. to furnish the details and the dates on which it made the investments referred to in para 11 of the Impugned Order dated 13th February, 2013, including details of cheque payments/UI Number of wire transfers, and transfer deeds;

    3. To direct the Appellant in his capacity as Promoter of Sahara Housing Investment Corporation Ltd. and Sahara India Real Estate Corporation Ltd. to furnish the details and the dates of the disposal of the above investments, including cheque/UI, name of transferees, transfer deeds;

    4. To direct the Appellant in his capacity as Promoter of Sahara Housing Investment Corporation Ltd. and Sahara India Real Estate Corporation Ltd. to furnish the Board Resolutions and company resolutions on the basis of which the above investments were made and subsequently disposed of;

    5. To direct the Appellant in his capacity as Promoter of Sahara Housing Investment Corporation Ltd. and Sahara India Real Estate Corporation Ltd. to furnish copy of the written MoU/arrangement with Sahara India, referred to in the affidavit dated 14th September, 2011 filed before this Hon'ble Tribunal;

    6. To direct the Appellant in his capacity as Promoter of Sahara Housing Investment Corporation Ltd. and Sahara India Real Estate Corporation Ltd. to furnish quarter wise details of funds with dates, received from Sahara India from October 2008 till April 2011 for investment in OFCDs-such...

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