2016 (12) TMI 63

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.... Mr. Arvind P.Datar, Sr. Adv., Mr. Pratap Venugopal, Adv., Ms. Niharika, Adv., MS. Surekha Raman, Adv., Mr. AnujSarma, Adv., Ms. Kanika, Adv., M/s. K.J.John & CO. For The Respondent : Mr. Kapil Sibal, Sr. Adv., Mr. Narendra Hooda, Sr. Adv., Mr. Gautam Awasthi, Adv., Mr. Aarohi Bhalla, Adv., Mr. Ayush Choudhary, Adv., Mr. Nijam Pasha, Adv., Mr. Rahul Tripathi, Adv., Mr. Nikhil Jain, Adv., Mr. Simranjeet Singh, Adv., Mr. Salim Inamdar, Adv., Mr. Gautam Talukdar, Adv., Mr. Ram Sajan Yadav, Adv., Mr. Vijay Kumar, Adv., Mr. Sarthak Nayak, Adv., Mr. Aviral Dhirendra, Adv., Mr. Maninder Singh, ASG, Mr. Rana Mukherjee, Sr. Adv., Mr. D.L.Chidananda, Adv., Mr. Ashok Srivastava, Adv., MS. Sadhna Sandhu, Adv., Mr. M.K.Maroria, Adv., Mr. Rajat Nair, ....

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....vance copy to the counsel opposite. Post I.A. No.... of 2016 on Monday i.e. 06.02.2017 at 2 P.M. Mr. Kapil Sibal, in the meantime, prays for continuance of the interim arrangement made by us by our Order dated 11.05.2016. He submits that he has on all previous occasions, when the said arrangement was extended, complied with the directions of this Court regarding deposit of the stipulated amount. In the circumstances, we direct that the interim arrangement made by our Orders dated 06.05.016 and 11.05.2016 shall continue till 06.02.2017 subject to the Saharas depositing in the Sahara SEBI Refund Account a further amount of Rs. 600,00,00,000/- (Rupees Six hundred crores only). Needless to say, in case the deposit is not made, the contemn....

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.... received the same or refrain from executing the sale deed. Mr. Sibal seeks time to verify the facts and to take necessary steps for ensuring deposit of the balance sale consideration in the SEBI account. He is given four weeks' time for the purpose. In case the sale deed has not been executed by the Saharas in favour of the purchaser of the Bahriach property, no sale deed shall be executed unless the deposit of the amount is ensured. I.A. No. 239 of 2016: Issue notice to the learned counsel for SEBI and to Mr. Shekhar Naphade, learned Amicus who may file their objections within four weeks. I.A. No. 188-189 of 2016: Learned counsel for the applicant seeks leave to withdraw I.A. Nos. 188-189. I.As. No.188-189 of 2016 are dism....