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SC trashes Sahara’s repayment plan
Legal Correspondent

New Delhi, March 7
The Supreme Court today rejected Sahara’s proposal for repayment of Rs 17,000 crore to the investors over 18 months, directing the group to come up with an “acceptable and honourable” plan.

A Bench comprising Justices KS Radhakrishnan and JS Khehar, which has special sittings only to hear the Sahara investment scam case, reprimanded the group for making it assemble today only to make an insignificant offer.

“You make us assemble and say you will not pay. It is a big insult. You can’t make a Supreme Court Bench assemble for a person who is not willing to pay,” the Bench told Sahara chief Subrata Roy’s senior counsel Aryaman Sundaram. The two judges head different Benches, but sit together for hearing a contempt case filed by market regulator SEBI as they had delivered the judgment on August 31, 2012 setting November 30, 2012 as the deadline for the group to return Rs 24,780 crore to over three crore investors through SEBI with 15% interest.