Pleading with the apex court to have a relook into its August 31 verdict, the Sahara group also sought expunging of its remark in the verdict, which ordered the firm to refund the money, raised through Optionally Fully Convertible Debentures (OFCDs).
Setting the three months' deadline to refund the money, the apex court had said the firms -- Sahara India Real Estate Corporation (SIREC) and Sahara Housing Investment Corporation (SHIC) -- had made a "pre-planned attempt" to bypass the regulatory and administrative authority of the SEBI.
The group said in its petition that they seek review of the verdict in order to protect their image in public eye.
"It is submitted that the observations are unfounded and plainly without any basis. The above observations cast serious aspersions upon the business ethics of the company for which there is no basis.
"It is submitted that no arguments were raised by SEBI about the genuineness and bonafides of the company or the subscribers. The question was whether they were required to be listed and required the approval of SEBI. It is respectfully submitted that the above observations are therefore completely erroneous," the petition said. (More)