Sahara realty firms' intention shady: SC

Syndicated from IANS | Published on Mon, Dec 3 2012 18:39 IST | 9 Views | Add comment

The Supreme Court Monday lashed out at Sahara group's real estate companies saying their conduct was "shady" in the matter of returning the investors' money mopped up under optionally fully convertible debentures scheme.

"You have no intention of returning (the investors' money). Your intentions are shady," said the apex court bench of Chief Justice Altamas Kabir, Justice S.S. Nijjar and Justice J. Chelameswar.

The Sahara India Real Estate Corporation and Sahara Housing Investment Corporation have challenged in the court an order issued by the Securities Appellate Tribunal.

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