S.e.b.i v. Sahara India Real Estate Corp. Ltd. & Others

1. We have gone through the fresh proposal filed on 25.03.2014. Though the same is not in compliance with our Order dated 31.08.2012 or the Order passed by the three-Judge Bench of this Court on 05.12.2012 in Civil Appeal No.8643 of 2012 and on 25.02.2013 in I.A. No.67 of 2013 in Civil Appeal No.9813 of 2011 with I.A. No.5 of 2013 in Civil Appeal No.9833 of 2011, we are inclined to grant interim bail to the contemnors who are detained by virtue of our order dated 04.03.2014, on the condition that they would pay the amount of 10,000 crores - out of which 5,000 crores to be deposited before this Court and for the balance a Bank Guarantee of a nationalized bank be furnished in favour of S.E.B.I. and be deposited before this Court. On compliance, the contemnors be released forthwith and the amount deposited be released to S.E.B.I.

2. We make it clear that this order is passed in order to facilitate the contemnors to further raise the balance amount so as to comply with the Courts Orders mentioned above.