Authority: Supreme Court of India

Order Date: 24-07-2026

Case Overview

  • Petitioner: Securities and Exchange Board of India (SEBI)
  • Respondent(s): Subrata Roy Sahara and others
  • Amicus Curiae: Mr. Shekhar Naphade, Sr. Advocate; Ms. Fauzia Shakil, AOR
  • Nature of proceedings: Contempt Petition (C) No.412 of 2012 (C.A. No.9813 of 2011) and a multitude of interlocutory applications (IA) relating to the Sahara Group employees’ claims for outstanding salary dues, verification, computation, and release of benefits.
  • Key background: Numerous IA numbers were listed (e.g., IA Nos.56922, 57003, 147567/2023, 78070/2023, 20982/2025, 292276/2025, 181154/2026, etc.) covering exemption from filing, intervention, clarification, permission for additional documents, and appropriate orders/directions. The Court also heard Crl. M.P. No.5253/2015 in W.P.(Crl.) No.57/2014, correcting a mistake involving senior counsel Mr. Rakesh Dwivedi.

Final Outcome

1. Notice Issuance – The Court ordered issuance of notice on IA Nos.56922 and 57003 of 2026 in the Contempt Petition.

2. Submission of Particulars – All counsel filing IA on behalf of Sahara employees must forward the particulars to the Amicus Curiae at shekharnaphade.amicus@gmail.com by 27‑08‑2026; the Amicus Curiae must file a revised list within three weeks thereafter.

3. Correction of Judgment – Remarks against Mr. Rakesh Dwivedi in paragraph 4 of the judgment dated 06‑05‑2014 are expunged; Crl. M.P. No.5253/2015 is allowed.

4. Committee Constitution – A Committee is constituted to verify and compute the claims of Sahara employees:

  • Chairperson: Hon’ble Mr. Justice Rajiv Sahai Endlaw, retired High Court Judge.
  • Honorarium: Chairperson – ₹5,00,000 per month; each assistant – ₹2,50,000 per month.
  • Assistance: The Chairperson may engage officers of the District Judiciary, Chartered Accountants, or other experts as needed.
  • Incidental Expenses: ₹25,00,000 allocated for administrative costs.
  • Funding Source: The Committee’s remuneration and expenses will be drawn from the ‘SEBI‑Sahara Refund Account’ held by SEBI.

5. Procedural Powers – The Committee may devise its own verification procedure, engage additional personnel, and will consider only those applications recorded in the revised list.

6. Co‑operation Directive – The Sahara Group and all stakeholders must provide full cooperation, furnishing all records, documents, and accounts required for verification.

7. Reporting Timeline – The Committee must complete verification and quantification of claims within three months from the start of its functioning and submit a report to the Court.

8. Subsequent Orders – Upon receipt of the Committee’s report, the Court will pass appropriate orders for the release of the determined amounts.

Topics: Court Order, Employee Claim Verification, Sahara Group