In its plea the group proposed to deposit Rs. 2,500 crore within three days and rest of the amount in installments after every three months. The Group also pleaded the release of Roy and two other directors from custody in order to withdraw the amount.
Senior counsel Rakesh Dwivedi, advocating for the Sahara Group, appealed the apex court that the group wishes to submit a substantial amount in a month and said that the rest of the amount will be paid subsequently.
The bench headed by Justice K.S. Radhakrishnan while hearing the plea directed Sahara to submit its proposal before SEBI and asked the market regulator to respond on it.