24,979.67 Crores is lying unutilized with the SEBI in “Sahara-SEBI Refund Account”, which has been deposited pursuant to the earlier direction issued by this Court.
Also Read: https://newslaw.in/case-type/civil/c-a-no-003481-003481-2022/
2.1
He has stated at the Bar that the amount deposited in “Sahara- SEBI Refund Account” is lying unutilized and in fact due to large number of continuing complaints against the Sahara Group of Cooperative Societies and the amount lying unutilized is also consisting of the amount of the depositors of Sahara Group of Cooperative Societies, if Rs.
He has prayed that a suitable direction be also issued that the amount due and payable to the respective depositors of the Sahara Group of Cooperative Societies may be disbursed in the most transparent manner and the same shall be paid to the genuine depositors on proper identification and on submitting their proof of deposits.
Also Read: https://newslaw.in/case-type/civil/acquisition-of-land-and-deemed-lapse-under-the-act-2013/
Therefore, the present application stands disposed of with the following directions:-
(i) Out of the total amount of Rs.
Subhash Reddy, Former Judge of this Court with the able assistance of Shri Gaurav Agarwal, learned Advocate, who is appointed as Amicus Curiae to assist Justice R. Subhash Reddy as well as the Central Registrar of Cooperative Societies in disbursing the amount to the genuine depositors of the Sahara Group of Cooperative Societies.
Also Read: https://newslaw.in/case-type/civil/taxation-of-engineering-design-drawings-goods-or-services/
5 lakhs per month be paid to Shri Gaurav Agarwal, learned Amicus Curiae towards their honorarium.
Case Title: PINAK PANI MOHANTY Vs. UNION OF INDIA (2023 INSC 320)
Case Number: W.P.(C) No.-000191 / 2022
