New Delhi, Jan 28 (UNI) The Supreme Court recently dismissed an application by Sahara group companies seeking to recall a previous order imposing hefty costs on 10 group companies and their 20 directors.
The bench directed that the imposed costs be deposited for the Wayanad landslide relief fund.
A bench comprising Justice Sudhanshu Dhulia and Justice KV Chandran rejected the recall plea, emphasizing that allowing such a request would essentially amount to reviewing the previous order.
The Court stated, “This amount has not been deposited by the petitioners, and now they seek to recall that order. This Court is not inclined to recall that order, as this amounts to a review of the order. We see no reason to entertain this prayer, and the same is dismissed.”
In August 2024, the Apex Court had directed 10 group companies to pay Rs. 10 lakh each for repeated adjournments and ordered the top 20 directors to deposit Rs. 5 lakh each for non-compliance with court orders.
The Court mandated that these amounts be deposited in the Kerala Chief Minister’s Relief Fund for relief and restoration efforts following the devastating Wayanad landslide of 2024.
The August order was a consequence of the group’s failure to comply with an earlier directive issued in October 2023. The previous order required Sahara group companies to submit a detailed list of their assets and the personal assets of their top 20 directors.
The October 2023 hearing focused on the Sahara City Homes housing project in Jaipur, Rajasthan, where numerous petitions were pending due to incomplete construction.
During the hearing, the bench comprising Justice Hima Kohli and Justice Ahsanuddin Amanullah was informed that a 2013 Supreme Court order in the SEBI vs. Sahara India Real Estate Corpn Ltd & Ors case barred the Sahara Group from transferring any movable or immovable properties.
In light of these restrictions, the Court had directed the group to furnish comprehensive details of the personal and company assets.
The Top Court reaffirms its firm stance on ensuring compliance and accountability in high-stakes corporate litigation.