Hello Experts,
Please refer the news https://www.menafn.com/qn_news_story.asp?storyid=%7B9393ea5e-c4b0-40a7-b703-fcc51da66044%7D in case you are not already aware of this topic.
Also Im attaching the copy of Jurisdiction here. Following is my query.
Quoting the last line of the jurisdiction below :-
" In the result, both the appeals are dismissed and the impugned order upheld. The
appellants in both the appeals shall now repay within six weeks from today the amount
collected from the investors on the terms as set out by the whole time member in the
impugned order. Parties shall bear their own costs. "
As I understand by "whole time member" SAT pointed to the SEBI authority.Please correct if I'm wrong.
Secondly now that SAHARA declared to appeal to Hon. Supreme court... Can it deny paying the amount to investors citing that the case is yet to be decided upon or the SAT jurisdiction is enuf to make them pay.
Also can somebody suggest about how a depositor has to approach the companies for refund based on this order and what to do if the company refuses.
Thanks for all your help
Regards
T
