The Supreme Court on Wednesday refused to extend the July 15 deadline to the Sahara group to pay Rs 552 crore. the Sahara paid SEBI Rs 1,500 crore, but sought an extension to pay another Rs 552 crore.
The court directed SEBI to procure the cheque. The SC also approved the terms, conditions, draft proclamation of the Aamby Valley auction. The court however put on hold the process until Sahara honoured the cheque of Rs 552 crore on July 15. The court said that it would ask Sahara on the next date for bigger amounts towards realising the Rs 9,000 crore dues.