Supreme Court affirms SEBI's jurisdiction to regulate Sahara's optionally fully convertible debentures, dismissing Sahara's appeal.
Directs Sahara India Real Estate Corp and Sahara Housing Investment Corp to refund Rs 17,400 crore collected from investors with 15% annual interest.
Appoints former Supreme Court judge Justice B.N. Agrawal to oversee the refund process to genuine investors.
Warns Sahara Group Chairman Subrata Roy and directors of contempt proceedings for any non-compliance with the order.