SC to hear Sebi's contempt plea against Sahara today

The Supreme Court will today hear the Sahara-SEBI case.

Earlier on Tuesday, the Securities and Exchange Board of India (SEBI) moved the top court, seeking contempt proceedings against the Sahara Group for allegedly obstructing the process of auctioning its Aamby Valley property in Pune, initiated on court's direction.

The SEBI mentioned the matter before a bench headed by Justice Ranjan Gogoi for urgent hearing, saying the auction process was to start from Tuesday but Sahara Group has been "obstructing" it by allegedly suspending day-to-day business activities in the project.

It claimed that suspension of business activities would create a law and order problem in the area and cause difficulties in carrying out the auction process.

Aamby Valley property auction process was to start from Tuesday but SEBI said Sahara Group has been "obstructing" it by allegedly suspending day-to-day business activities in the project.