SAT adjourns hearing on Sahara plea to April 20

The Securities Appellate Tribunal (SAT), on Saturday, adjourned to April 20 its hearing on Subrata Roy’s plea against the Securities and Exchange Board of India’s (SEBI) attachment order of his bank accounts and other assets, along with those of two group firms and their top executives. After taking up the petition for its ‘preliminary hearing’, SAT posted the matter to April 20 as the counsel for the Sahara group sought adjournment due to medical reasons. The matter relates to the case involving a refund of over Rs.24,0000000000 raised through ‘various illegalities’ by two Sahara companies. Four petitions have been filed against SEBI, namely by Sahara chief Subrata Roy himself, Sahara Housing Investment Corp Limited , Sahara India Real Estate Corp Limited , and Ashok Roy Chaudhary and others. Mr. Roy had first approached SAT against Sebi’s attachment orders in February.