Authority: Supreme Court of India
Order Date: 24-07-2026 (date of hearing and order)
Case Overview
- Petitioner: Securities and Exchange Board of India (SEBI)
- Respondent(s): Subrata Roy Sahara and others (collectively the Sahara Group)
- The matter arises from Contempt Petition (C) No. 1820‑1822/2017 (also referenced as CONMT.PET.(C) No.413/2012) and related civil appeals (C.A. No. 9833/2011, C.A. No. 9813/2011, C.A. No. 8643/2012).
- Numerous Interlocutory Applications (IA) have been filed seeking appropriate orders, clarification, exemption from filing O.T., intervention, impleadment, permission for additional documents, and other directions.
- Employees of the Sahara Group have approached the Court claiming outstanding salary dues and related benefits.
Key Observations and Directions
1. Notice for IA 56922/2026 and 57003/2026
- The Court issued notice and directed all counsel who have filed interlocutory applications on behalf of the employees to furnish particulars to the Amicus Curiae (Mr. Shekhar Naphade) at shekharnaphade.amicus@gmail.com by 27‑Aug‑2026.
- The Amicus Curiae must file a revised list within three weeks of receiving the particulars.
2. Correction in Criminal Matter
- In Crl. M.P. No.5253/2015 (W.P.(Crl.) No.57/2014), the Court expunged remarks made against Mr. Rakesh Dwivedi in paragraph 4 of the judgment dated 06‑May‑2014.
- The application (Crl. M.P. No.5253/2015) was allowed.
3. Intervention Applications
- The Court allowed a large number of intervention applications filed by persons claiming to be employees of the Sahara Group, directing the formation of a Committee to verify and compute their claims.
Committee Constitution
- Chairperson: Hon'ble Mr. Justice Rajiv Sahai Endlaw, retired Judge of the High Court.
- Honorarium for Chairperson: ₹5,00,000 (Five Lakhs) per month.
- Assistants: The Chairperson may engage officers of the District Judiciary, Chartered Accountants, or other experts.
- Honorarium for each assistant: ₹2,50,000 (Two Lakhs Fifty Thousand) per month.
- Incidental & Administrative Expenses: ₹25,00,000 (Twenty‑Five Lakhs) shall be made available.
- The Committee may also engage additional personnel or support staff as required.
Coordination and Funding
- The Chairperson shall coordinate with the Amicus Curiae to facilitate the release of funds from the ‘SEBI‑Sahara Refund Account’ held by SEBI, covering the honorarium and incidental expenses.
- The Sahara Group and all concerned stakeholders must extend full cooperation, providing all records, documents, accounts, and other material required for verification and quantification of claims.
Reporting Timeline
- The Committee must complete verification and quantification of the claims within three months from the date of commencement of its functioning.
- A detailed report must be submitted to the Court; upon receipt, the Court will pass appropriate orders for the release of the amounts due to the claimants.
Other Orders
- The Court directed that only the claims of persons whose applications have been taken on record (as per the list to be filed by the Amicus Curiae) will be considered.
- The Registry is instructed to furnish the Chairperson with a copy of the list containing particulars of all such applications.
List of Interlocutory Applications Referenced
(The order enumerates dozens of IA numbers across various categories. Highlights are provided below; the full list appears in the original order.)
Appropriate Orders / Directions
- IA Nos. 103086/2025, 260259/2025, 334953/2025, 58641/2025, 175833/2025, 258195/2025, 74974/2025, 291979/2025, 153064/2026, 248352/2024, 29310/2025, 296461/2025, 82242/2026, 41553/2026, 78878/2026, 63099/2025, 264838/2025, 295573/2025, 2057/2026, 41469/2026, 203485/2022, 260224/2025, 264452/2025, 280031/2025, 280477/2025, 290785/2025, 162812/2026, 136394/2021, 293157/2025, 311024/2025, 38505/2026, 150364/2026, 88721/2017, 130199/2020, 202750/2022, 203523/2022, 188912/2024, 260588/2025, 270329/2025, 280444/2025, 293396/2025, 93236/2026, 118234/2020, 282738/2024, 80884/2025, 260330/2025, 263345/2025, 283084/2025, 28054/2026, 111963/2026, 186893/2026, 58117/2020, 44866/2021, 203516/2022, 68184/2025, 232892/2025, 260581/2025, 280438/2025, 5274/2026, 72084/2026, 185780/2026, 52680/2020, 68141/2024, 233758/2024, 37283/2025, 232665/2025, 263342/2025, 265789/2025, 291802/2025, 293224/2025, 293383/2025, 10494/2019, 44861/2021, 109345/2022, 203490/2022, 280306/2025, 280509/2025, 24886/2021, 95547/2022, 88532/2023, 260226/2025, 260437/2025, 260638/2025, 264624/2025, 291661/2025, 293311/2025, 296521/2025, 316178/2025, 78376/2018, 263940/2025, 74012/2018, 260/2017, 18940/2018, 50787/2026, 97639/2026, 123268/2017, 134546/2018, 159564/2022, 260589/2025, 44867/2021, 44863/2021, 115238/2017, 80886/2025, 293142/2025, 293231/2025, 87565/2017, 260582/2025, 48237/2018, 112090/2024, 25/2014, 142664/2023, 293211/2025, 162813/2026, 110/2015.
Clarification / Direction
- IA Nos. 23389/2026, 287901/2025, 293360/2025, 293328/2025, 165935/2025, 289277/2025, 78376/2018, 263940/2025, 74012/2018, 260/2017, 18940/2018, 50787/2026, 97639/2026, 123268/2017, 134546/2018.
Exemption from Filing O.T.
- IA Nos. 293219/2025, 295494/2025, 248408/2024, 103084/2025, 175834/2025, 292255/2025, 248354/2024, 257934/2025, 289267/2025, 335331/2025, 32934/2026, 67593/2026, 78069/2023, 288557/2025, 291030/2025, 292275/2025, 293218/2025, 288022/2025, 290491/2025, 23386/2026, 66757/2026, 103083/2025, 13444/2026, 153065/2026, 58639/2025, 258194/2025, 290157/2025, 41609/2026, 284008/2025, 289657/2025, 291977/2025, 41605/2026, 247435/2024, 28588/2025, 283346/2025, 292924/2025, 2132/2026, 20985/2025, 250329/2025, 291164/2025, 71841/2026.
Intervention / Impleadment
- IA Nos. 63098/2025, 241288/2025, 264837/2025, 289266/2025, 291110/2025, 229256/2025, 295493/2025, 179206/2026, 258857/2025, 292269/2025, 293206/2025, 293420/2025, 334951/2025, 179203/2026, 248406/2024, 293133/2025, 300630/2025, 49809/2026, 175832/2025, 287900/2025, 293058/2025, 296595/2025, 7636/2026, 74972/2025, 293299/2025, 69648/2025, 165933/2025, 257933/2025, 291897/2025, 293274/2025, 296460/2025, 131754/2025, 292676/2025, 293237/2025, 260328/2025, 263344/2025, 266027/2025, 293226/2025, 293390/2025, 111962/2026, 48224/2018, 203515/2022, 260252/2025, 280436/2025, 302619/2025, 182587/2026, 37253/2025, 229932/2025, 260233/2025, 260465/2025, 263341/2025, 265788/2025, 297037/2025, 320651/2025, 203489/2022, 202814/2024, 37124/2025, 280305/2025, 280508/2025, 50786/2026, 32233/2017, 202038/2024, 260409/2025, 289754/2025, 228/2016, 78372/2018, 289503/2025, 29446/2026, 187102/2026, 282933/2025, 260579/2025, 282526/2025, 322567/2025, 72083/2026, 111390/2026, 212795/2024, 291791/2025, 181283/2026, 22/2014, 209145/2025, 97638/2026, 16501/2021, 95545/2022, 88529/2023, 260614/2025, 293160/2025, 293309/2025, 295496/2025, 316177/2025, 38510/2026, 110821/2017, 7584/2021, 203484/2022, 80592/2023, 81548/2025, 260221/2025, 260380/2025, 264451/2025, 280029/2025, 280474/2025, 293236/2025, 93239/2026, 260346/2025, 311023/2025, 150362/2026, 202747/2022, 203520/2022, 233167/2025, 270328/2025, 280442/2025, 293393/2025.
Permission / Permission for Withdrawal / Additional Documents
- IA Nos. 58679/2025 (withdrawal of amount), 281214/2024 (additional documents), 131753/2025, 66761/2026, 290488/2025, 292925/2025, 5840/2026, 58852/2025 (recovery of amount), 131754/2025, 258578/2025, 293141/2025, 293230/2025, 293324/2025, 293210/2025, 233/2016, 203416/2025, 96865/2026, 293427/2025, 293122/2025, 47133/2017, 28/2014 (release of petitioner), 191582/2026 (withdrawal of case), 190266/2026 (withdrawal of case), 28/2014 (release of petitioner).
Other Specific Applications
- IA No. 202463/2024 (permission to file additional documents/facts/annexures), IA No. 247257/2024 (permission), IA No. 249855/2024 (clarification/direction), IA No. 249778/2024 (clarification/direction), IA No. 53947/2024 (exemption from filing O.T.), IA No. 264125/2024 (intervention), IA No. 263846/2024 (intervention), IA No. 91352/2025 (intervention/impleadment), IA No. 160832/2026 (permission to file additional documents/facts/annexures), IA No. 160833/2026 (stay application), IA No. 160834/2026 (addition/deletion/modification of parties), IA No. 164356/2026 (permission to file additional documents/facts/annexures).
Final Outcome
- The Supreme Court constituted a Committee, fixed honoraria and expenses, directed coordination with the SEBI‑Sahara Refund Account, and mandated a three‑month timeline for verification and reporting of employee salary claims.
- Notices were issued for IA 56922/2026 and 57003/2026, and a correction was made in the criminal matter involving Mr. Rakesh Dwivedi.
- All other listed IA applications were either allowed, directed for clarification, exemption, or further procedural steps as detailed above.
Topics: Sahara employee claims, Supreme Court committee, SEBI refund