Sebi Vs Sahara: This saga enters another chapter

Kapadia ensured appeal was disposed of quickly by posting it to the vacation bench

It has been over six years since the tussle between the Securities and Exchange Board of India (Sebi) and the two Sahara group entities Sahara India Real Estate Corp and Sahara Housing Invest Corp came to the Supreme Court. In these years, it has seen six chief justices, of which at least four have directly dealt with the case and left a mark. 

In November 2010, Sebi had held that the money raising activity by these two firms by issue of optionally fully convertible debentures (OFCDs) were illegal and passed an interim order asking them to stop the activity. But