Wed, 09 Jan 2013 21:02:27 GMT | By IANS

SC declines Sahara's review plea

While reiterating Sahara's commitment to refund the investors' money, the petition had said that it was seeking the review of the verdict to uphold its image in the public eye


SC declines Sahara's review plea (© PTI)

New Delhi: The Supreme Court on Wednesday declined a plea by two Sahara Group companies seeking the review of the court's Aug 31 order directing them to return to the investors Rs.17,400 crore, which the group had mopped up through Optionally Fully Convertible Debentures (OFCD) in 2008 and 2009, with 15 percent interest.

The apex court bench of Justice KS Radhakrishnan and Justice JS Khehar declined the review petition by two Sahara Companies -- Sahara India Real Estate Corporation and Sahara Housing Investment Corporation -- upon considering the same in their chamber on Tuesday.

"We have carefully gone through the grounds raised in the review petitions filed by the appellants. We find none of the grounds has been made out for review of our judgment. We also do not find any inconsistency in the views expressed by both of us," the court said.

It added: "On the other hand, all the contentions, legally and factually, raised by the appellants were examined, addressed and answered on all possible angles and dimensions."

(Continued)
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