IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION I.A. NO. OF 2013 IN CIVIL APPEAL NO.

9813 OF 2011

IN THE MATTER OF: Sahara India Real Estate Corporation Limited & Ors. Appellants

Versus

Securities and Exchange Board of India & Anr. WITH CIVIL APPEAL NO. 9833 OF 2011 Respondents

Sahara Housing Investment Corporation Limited & Ors. Versus Appellants

Securities and Exchange Board of India & Anr. Respondents

APPLICATION FOR FURTHER DIRECTIONS IN TERMS OF ORDER DATED 31.08.2012 PASSED BY THIS HONBLE COURT TO THE HONBLE THE CHIEF JUSTICE OF INDIA AND HIS COMPANION JUSTICES OF THE SUPREME COURT OF INDIA. THE HUMBLE APPLICANT/ ABOVENAMED. MOST RESPECTFULLY SHEWETH: 1. This application has become necessary in view of the APPLICATION OF THE RESPONDENT NO.1

recalcitrant attitude of the two Sahara companies (SIRECL and SHICL), their Directors and Shri Subrato Roy Sahara, their promoter (Saharas). The directions contained in the judgment dated Even the installments and

31.08.2012 were not complied with.

other directions given by this Hon'ble Court dated 05.12.2012 were not complied with. Thereafter, the Applicant herein has passed

two orders on 13.2.2013 to implement the directions of this Honble Court contained in its two orders dated 31.08.2012 and 05.12.2012. Even the simple directions of furnishing data, giving details of properties, disclosing the nature of the entities wherein the investments has been made, as required by these orders, has not

been complied with. Shockingly, although the two companies assured this Hon'ble Court that only Rs. 351 crores are payable in the year ending 31.03.2013 and all the bonds, except one category, are not redeemable, it is now claimed that except Rs. 2620 Crores all other amounts have been refunded. In view of the open,

continued and consistent defiance of the orders of this Hon'ble Court and the orders of SEBI, it is necessary that drastic measures are taken to protect the interest of three crores investors. 2. The Applicant is filing the present application seeking further

directions from this Honble Court in terms of directions of this Honble Court in order dated 31.08.2012 passed in this appeal to allow SEBI, Whole Time Member [hereinafter referred to as SEBI (WTM)] to give public notice seeking applications from the genuine investors for refund of money and after due verification of their genuineness, to refund the money to them, allow SEBI [WTM] to examine genuineness of all the investors who submit their claims, appoint Officer On Special Duty to deal with objections and/or claims relating to property to be sold and other officers for

conducting sale, permit SEBI to take measures for arrest and

detention in civil prison of promoter and two male directors of Saharas, to deposit the passports of these persons. 3. By common order dated 31.08.2012, referred to above,

passed in Civil Appeal Nos. 9813 of 2011 and 9833 of 2011, this Honble Court found, on facts as well as law, no illegality in the proceedings initiated by SEBI, as well as in the order passed by SEBI [WTM] dated 23.06.2011 and that dated 18.10.2011 passed by Securities Appellate Tribunal [hereinafter referred to as SAT] and they were accordingly upheld. This Honble Court, in modification of the directions issued by SEBI [WTM], which were endorsed by SAT, issued following directions: "1. Saharas (SIRECL & SHICL) would refund the amounts collected through RHPs dated 13.3.2008 and 16.10.2009 along with interest @ 15% per annum to SEBI from the date of receipt of the subscription amount till the date of repayment, within a period of three months from today, which shall be deposited in a Nationalized Bank bearing maximum rate of interest.

2.

Saharas are also directed to furnish the details with

supporting documents to establish whether they had refunded any amount to the persons who had subscribed through RHPs

dated 13.3.2008 and 16.10.2009 within a period of 10 (ten) days from the pronouncement of this order and it is for the SEBI (WTM) to examine the correctness of the details furnished.

3.

We make it clear that if the documents produced by

Saharas are not found genuine or acceptable, then the SEBI (WTM) would proceed as if the Saharas had not refunded any amount to the real and genuine subscribers who had invested money through RHPs dated 13.3.2008 and 16.10.2009.

4.

Saharas are directed to furnish all documents in their

custody, particularly, the application forms submitted by subscribers, the approval and allotment of bonds and all other documents to SEBI so as to enable it to ascertain the genuineness of the subscribers as well as the amounts deposited, within a period of 10 (ten) days from the date of pronouncement of this order.

5.

SEBI (WTM) shall have the liberty to engage

Investigating Officers, experts in Finance and Accounts and other supporting staff to carry out directions and the expenses for the same will be borne by Saharas and be paid to SEBI.

6.

SEBI (WTM) shall take steps with the aid and and other supporting staff to examine the

assistance of Investigating Authorities/Experts in Finance and Accounts documents produced by Saharas so as to ascertain their genuineness and after having ascertained the same, they shall identify subscribers who had invested the money on the basis of RHPs dated 13.3.2008 and 16.10.2009 and refund the amount to them with interest on their production of relevant documents evidencing payments and after counter checking the records produced by Saharas.

7.

SEBI (WTM), in the event of finding that the

genuineness of the subscribers is doubtful, an opportunity shall be afforded to Saharas to satisfactorily establish the same as being legitimate and valid. It shall be open to the Saharas, in such an eventuality to associate the concerned subscribers to establish their claims. The decision of SEBI (WTM) in this behalf will be final and binding on Saharas as well as the subscribers.

8.

SEBI (WTM) if, after the verification of the details

furnished, is unable to find out the whereabouts of all or any of the subscribers, then the amount collected from such subscribers will be appropriated to the Government of India.

9.

We also appoint Mr. Justice B.N. Agrawal, a retired

Judge of this Court to oversee whether directions issued by this Court are properly and effectively complied with by the SEBI (WTM) from the date of this order. Mr. Justice B.N. Agrawal would also oversee the entire steps adopted by SEBI (WTM) and other officials for the effective and proper implementation of the directions issued by this Court. We fix an amount of Rs.5 lakhs towards the monthly remuneration payable to Mr. Justice B.N. Agrawal, this will be in addition to travelling, accommodation and other expenses, commensurate with the status of the office held by Justice B.N. Agarwal, which shall be borne SEBI and recoverable from Saharas. Mr. Justice B.N. Agrawal is requested to take up this assignment without affecting his other engagements. We also order that all administrative expenses including the payment to the additional staff and experts, etc. would be borne by Saharas.

10.

We also make it clear that if Saharas fail to comply

with these directions and do not effect refund of money as directed, SEBI can take recourse to all legal remedies, including attachment and sale of properties, freezing of bank accounts etc. for realizations of the amounts.

11. We also direct SEBI (WTM) to submit a status report, duly approved by Mr. Justice B.N. Agrawal, as expeditiously as possible, and also permit SEBI (WTM) to seek further directions from this Court, as and when, found necessary."

4.

Saharas failed to comply with direction No.4 aforementioned

as it did not submit any of the documents enumerated thereunder to SEBI within the period of 10 days as required under the said direction to enable SEBI [WTM] to ascertain the genuineness of the subscribers as well as the amounts deposited. Under direction No. 6, SEBI [WTM] was required to verify the genuineness of the subscribers and the amount deposited by them with the aid and assistance of the persons enumerated thereunder in case the documents would have been submitted in accordance with direction no. 4. According to direction no. 7, if upon verification of the documents aforementioned, SEBI [WTM] found that the

genuineness of the subscribers was doubtful, he was required to give an opportunity to SHICL to establish their genuineness. Under direction no. 8, in case the SEBI [WTM], after verification of the documents furnished, was unable to find out the whereabouts of all or any of the subscribers, then the amounts collected from such

subscribers were liable to be appropriated to the Government of India. As mentioned above, no document was furnished by SHICL within the stipulated 10 days period. 5. In the common order dated 31.08.2012, direction no. 2

required Saharas to furnish details with supporting documents to establish as to whether SHICL and SIRECL had refunded any amount, within 10 days i.e. by 10.09.2012. This direction was not complied with. By an order dated 5.12.2012, this Honble Court granted 15 days to SHICL and SIRECL to furnish documents pertaining to refunds made. SHICL and SIRECL submitted

documents in 127 trucks which even according to them contained only 75% of the entire documents required to be submitted. Despite SEBI setting out the manner in which the documents should be furnished, the documents that were delivered to SEBI were found to have been hopelessly mixed up whereby the application forms and the redemption vouchers appear to have been deliberately separated. This was also noted in the third status report filed by SEBI [WTM] and duly approved by Mr. Justice B. N. Agrawal. Direction No.3 states that if the documents are not found to be genuine or acceptable, then SEBI [WTM] would proceed as if Saharas had not refunded any amount to the real and genuine

subscribers who had invested money through RHPs dated 13.3.2008 and 16.10.2009.

6.

Since, the documents are not furnished in the manner

prescribed by SEBI and further they have been hopelessly mixed up making it virtually impossible to correlate the application and the redemption vouchers, the same are, therefore, not acceptable, as recorded in the SEBI (WTM) order dated 13.02.2013.

7.

Saharas did not comply with the directions issued by this

Honble Court in its order dated 31.08.2012 for making the deposit of money on or before 30.11.2012. Just before the last date for payment of money, SIRECL and SHICL filed Appeal No. 221 of 2012 before SAT and that Appeal was dismissed on 29.11.2012. Against this order of SAT, SIRECL filed an Appeal being C. A. No. 8643 of 2012 before this Honble Court.

8.

The said Appeal was disposed by this Honble Court on

05.12.2012 with the following directions:I) The appellants shall immediately hand over the

Demand Drafts, which they have produced in Court, to

SEBI, for a total sum of Rs. 5120/- Crores and deposit the balance in terms of the order namely, Rs. 17,400/- Crores of and 31st August, the entire 2012,

amount,

including the amount mentioned above, together with interest at the rate of 15 per cent, per annum, with SEBI, in two installments. The first installment of

Rs.10,000/-Crores, shall be deposited with SEBI within the first week of January, 2013. The remaining

balance, along with the interest, as calculated, shall be deposited within the first week of February, 2013. The time for filing documents in support of the refunds made to any person, as claimed by the appellants, is extended by a period of 15 days. On receipt of the said documents,

SEBI shall implement the directions contained in the order passed on 31st August, 2012. In default of deposit of the said documents within the stipulated period, or in the event of default of deposit of either of the two installments, the directions contained in paragraph 10 of the aforesaid order dated 31st August, 2012, shall immediately come into effect and SEBI will be entitled remedies, including attachment to take all legal of properties,

and sale

freezing of bank accounts etc. for relisation of the balance dues. 9. Thus, on a combined reading of the two orders of this

Honble Court, it is clear that the amounts that were to be refunded to the investors by SHICL and SIRECL should have been deposited as per the following directions in the order dated 05.12.2012 passed by this Court:i. A sum of Rs. 5120 crores by way of a demand drafts

[which were produced in court] were to be handed over immediately to SEBI ii. The first instalment of Rs. 10000 crores to be

deposited within 1st week of January, 2013; and iii. Remaining balance, along with interest to be

deposited within 1st week of February, 2013.

10.

Saharas have neither paid the amounts on or before

30.11.2012, as required in terms of order dated 31.08.2012, nor did it pay the first and second installments mentioned above and,

therefore, have failed to comply with the orders of this Honble Court in C. A. Nos.9813 and 9833 of 2011 and 8643 of 2012. Saharas have also failed to comply with direction Nos. 2 and 4 contained in the order dated 31.08.2012, as stated above. Consequently, SEBI was constrained to take necessary action by passing the order in terms of direction No. 10 contained in the order dated 31.08.2012 passed by this Honble Court and reiterated in the order dated 05.12.2012 for attachment and sale of properties and freezing of bank accounts, etc.

11.

In view of the above, SEBI [WTM] passed order

on

13.02.2013 attaching all the assets mentioned at Serial nos.1 to 9 of Table A mentioned in the said order. By the said Order, SEBI [WTM] has also attached all immovable properties and movable properties of SIRECL and SHICL directing them not to transfer or encumber the same in any manner and to furnish full details of immovable properties, details pertaining to development rights, names of special purpose vehicles, details of investments, other than those enumerated above, details of companies and firms

enumerated in the said affidavit filed before this Honble Court on 04.01.2012 and share certificates of Amby Valley described above.

All the bank accounts of SHICL, its demat accounts and investments made by it in the banks were attached directing the banks to transfer the amount to SEBI SAHARA Refund Account. SIRECL and SHICL were restrained from operating all its banks accounts including demat accounts, redeeming or disposing of mutual funds investments, from transferring shares held by it and withdrawing investments made in the banks. It was directed to recover

investments in partnership firms of Sahara Group and loans advanced and deposit the same with SEBI. SIRECL and SHICL were also directed to deposit cash and other receivables as enumerated at Sl. No. 13 of Table A in the said order. By the said order bank accounts of the aforesaid promoters and directors have also been frozen, their immovable and movable properties attached and they have been restrained from transferring or in any manner

encumbering the same.

They were directed to furnish details of

their immovable and movable properties. 12. The Applicant has served the aforesaid order on the Banks of

Saharas, systemically important NBFCs, Mutual Funds, Depositories, Revenue Authorities, NABARD, Reserve Bank of India and

Enforcement Directorate.

The Applicant also issued newspaper

advertisements about the attachment order cautioning investors and

others. So far Applicant has received responses from 325 banks and an amount of Rs. 19.07 Crores has been transferred to Applicants Sahara Refund Account by six banks, and three banks have frozen an amount of Rs. 86.57 Lacs and 31[11] 6 banks have stated that they have no accounts of those entities/persons. The Applicant is following up with remaining banks etc. 13. According to the finding recorded in the order dated

13.02.2013 passed by SEBI [WTM], referred to above, Saharas have failed to comply with direction No. 4. 14. It may be relevant to state that in the meantime, on the

basis of whatever documents were deposited by Saharas, upto 20.12.2012, officials employed by SEBI for the verification of the documents started verification work during the course of which the first step which was taken was to scan the documents produced by Saharas till 20th December, 2012 pursuant to order dated 05.12.2012 passed by this Honble Court in Civil Appeal No. 8643 of 2012, as such, the work of scanning of most of the documents commenced in the presence of representatives of Saharas. Approximately scanned. 1.85 crores applications have been already

In the meantime, apart from scanning, the work of data

feeding also commenced. Many complaints were also received by

SEBI from the investors and requesting SEBI to refund the amount invested by them together with interest accrued thereon at the rate of 15% per annum from the date of the investment till the receipt of the amount by them. For personal verification of the

investors/Debenture Holders, the Applicant is engaged in discussion with the Postal Authorities. The Applicant by way of pilot project sent notices to some of the investors for finding out their genuineness on the basis of documents submitted by Saharas and the complaints received from the Debenture Holders. Accordingly, notices were sent to 21253 investors by registered post requiring them to furnish the information in a format attached with the notice and directing them to submit the documents as required in the format, especially the original bonds said to have been issued in their favour. Out of the aforesaid 21253 registered covers, around 7587 were returned undelivered which included 4942 with the endorsement, inter alia, incomplete address/address not found and from 233 Debenture Holders response has been received raising claim for refund of money. So far the remaining registered envelops i.e., 13449 envelops are concerned, neither any response has been received from the debenture holders nor the registered envelops, for which the matter has been taken up with the Postal Authorities as to

what happened to the said envelopes, whether the same have been delivered or not. A chart showing the details of notices sent to the investors is annexed to this application as ANNEXURE- A/1 (PAGE 15. ). After passing of the aforesaid order dated 13.02.2013 by

SEBI [WTM], SEBI filed an additional affidavit dated 20.02.2013 in Contempt Petition No. 412/2012 stating therein that in view of the aforesaid order passed on 13.02.2013, SEBI was not required to continue with the other steps, except the scanning of the documents. So far scanning of the documents is concerned, it was stated in the affidavit that it was essential to go ahead with the same in order to have a back up of the original documents, as such, the scanning work is going on. So far further data feeding and sending notices to the Debenture Holders is concerned, the Applicant will take steps when permission is accorded by this Honble Court. 16. The total number of notices sent to Debenture Holders which

have been returned back, as stated above, is 7733 and that responded by Debenture Holders is 233. Out of 21253 Debenture Holders, 233, as stated above, responded and filed their documents for refund and their ratio is 1.09% of 21,253. As at least 1.09%

investors have submitted the documents and as such the amount invested by them together with interest at the rate of 15% per annum may be directed by this Honble Court to be refunded out of sum of Rs. 5120 Crores deposited by Saharas with SEBI. In case the refund claims are found for an amount more than the monies made available by the Respondents, investors will be refunded on prorata basis for the time being and the remaining amount of such investors shall be paid on realization of balance money. 17. The whole object of this exercise done by SEBI [WTM] and

the final order passed therein by him, the order of confirmation passed by SAT and the final order passed by this Honble Court on 31.08.2012 was to protect interest of the genuine investors and defeat the claims of others. Most of the 233 Debenture Holders appear to be low income persons. As Saharas have failed to carry

out direction No. 4 in its entirety by not submitting documents within 10 days, as stated in Order dated 31.08.2012, which was never extended later on, the amount of Rs. 5120 Crores deposited by Saharas under the orders of this Honble Court passed on 05.12.2012 is liable to be appropriated to the Government of India in view of the directions in order dated 31.08.2012 unless any contrary order is passed. But keeping in mind the low income

investors, this Honble Court may kindly consider the desirability of refunding of monies to them. It is submitted that irrespective of the percentage of the genuine investors, even if there is one genuine investor, he is required to be paid the amount invested by him together with interest at the rate of 15% per annum from the date of deposit till payment as the only purpose of passing order by this Honble Court was to protect the interest of genuine investors. According to the Applicant, the purpose of the Order would be better served by allowing SEBI to give public notice seeking Applications from the genuine investors for refund of money and after due verification of their genuineness, to refund the money to them. Further, this Honble Court may consider the desirability of permitting SEBI to examine genuineness of all the investors who stake their claims with SEBI in response to public notice to be issued with the aid and assistance of Investigating Authorities/experts in finance and other supporting staff as enumerated in direction no. 6 so that no genuine investor suffers for no fault of his. This is essential because genuine investors should not suffer for want of failure of Saharas. As the Applicant has been established primarily for protecting the interest of investors in securities, it is their

bounden duty to ensure that genuine investors are refunded their investments. 18. Further, before effecting sale of properties, objections or

claims may arise and for dealing with the same, SEBI (WTM), with the concurrence of Mr. Justice B. N. Agrawal, be permitted to appoint suitable Officers On Special Duty on appropriate terms and conditions for implementation of directions of this Honble Court. Apart from this, SEBI (WTM), with the concurrence of Mr. Justice B. N. Agrawal, be also permitted to appoint suitable officers to conduct sale of properties for realization of the amount and deliver vacant possession of property to the purchaser. 19. It may not be out of place to mention that while approving

the 5th Status Report dated 12th March, 2013 submitted by SEBI [WTM}, Mr. Justice B.N. Agrawal has observed and noted that for effecting expeditious refund of money, as directed by this Honble Court, it would be just and expedient to take the measures for arrest and detention in civil prison of promoter of Saharas, Shri Subrata Roy Sahara and two male directors viz., Shri Ashok Roy Choudhary and Shri Ravi Shankar Dubey, which steps should be taken after giving reasonable opportunity of hearing to them. Therefore, for

the reasons stated by Mr. Justice B.N. Agrawal, referred to above, it is submitted that SEBI [WTM] may be permitted by this Honble Court to take the aforesaid measures against the promoter and directors referred to above. A true copy of Fifth Status Report dated 12.03.2013 by SEBI (WTM) together with notes of Mr. Justice B. N. Agrawal which has been filed on 13.03.2013 is hereto (PAGES 20. annexed TO and ). marked as ANNEXURE A/2

It may be stated that Mr. Justice B. N. Agrawal while

approving Fifth Status Report dated 12.03.2013 has further observed and noted that it would be desirable to take steps against the promoter of Saharas Shri Subrata Roy Sahara and their three directors, viz., Shri Ashok Roy Choudhary, Shri Ravi Shanker Dubey and Ms. Vandana Bhargava for depositing their respective passport with the Secretary General of this Honble Court and restraining them from leaving this country without the prior permission of this Honble Court. Therefore, for the reasons stated by Mr. Justice B.N. Agrawal, referred to above, it is further submitted that this Honble Court may be pleased to consider desirability of directing the promoter and directors, referred to above, to deposit their

respective passport with Secretary General of this Honble Court and restraining them from leaving this country without permission of this Honble Court.

PR AYER
In view of the above, it is prayed that this Honble Court may be pleased to:

(a)

pass an order permitting SEBI [WTM] to give public

notice seeking applications within a time frame specified by SEBI from the genuine investors for refund of money and after due verification of their genuineness, to refund the same to them;

(b)

pass an order allowing SEBI [WTM], with the aid and

assistance of investigating authorities/ experts in finance and other supporting staff as enumerated in direction NO 6 referred to above, to examine genuineness of the investors who respond to the aforesaid notice and SEBI's

communications as referred to in para 16 above and upon conclusion of the enquiry, whosoever is found genuine, to

refund the money invested by them together with interest at the rate of 15% from the date of deposit till payment and in case the refund claims are found for an amount more than the monies made available by the Respondents, to refund on prorata basis for the time being and the remaining amount of such investors shall be paid on realization of balance money; (c) pass an order permiting SEBI (WTM), with the

concurrence of Mr Justice B.N.Agrawal, to appoint suitable Officers on Special Duty on appropriate terms and conditions to deal with objections and/or claims that may arise in the course of implementation of directions of this Honble Court and also to appoint suitable officers to conduct sale of properties for realisation of the amount and deliver vacant possession of property to the purchaser;

(d)

pass an order permitting SEBI [WTM] to take measures

for arrest and detention in civil prison of promoter of Saharas Shri Subrata Roy Sahara and the two male directors, viz., Shri Ashok Roy Choudhary and Shri Ravi Shankar Dubey after giving reasonable opportunity of hearing.

(f)

pass an order directing the promoter of SIRECL and

SHICL- Shri Subrata Roy Sahara and their Directors, viz., Shri Ashok Roy Choudhary, Shri Ravi Shankar Dubey and Ms. Vandana Bhargava to deposit forthwith their respective passport with the Secretary General of this Hon'ble Court and not to leave the country without the prior permission of this Hon'ble Court; and

(g)

pass such other and/or further order(s) as this Honble

Court may deem fit and proper in the facts and circumstances of the case.

AND FOR THIS ACT OF KINDNESS, THE APPLICANT/RESPONDENT NO.1 SHALL, AS IN DUTY BOUND, EVER PRAY.

FILED BY

M/s. K.J.JOHN & CO., Advocate for the Applicant/Respondent No.1.

FILED ON: 14.03.2013

IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION I.A. NO. OF 2013 IN CIVIL APPEAL NO.9813 OF 2011

IN THE MATTER OF: Sahara India Real Estate Corporation Limited & Ors. Appellants

Versus

Securities and Exchange Board of India & Anr. WITH CIVIL APPEAL NO. 9833 OF 2011 Respondents

Sahara Housing Investment Corporation Limited & Ors. Versus Appellants

Securities and Exchange Board of India & Anr. Respondents

AFFIDAVIT I, Anubhav Roy, S/o Shri R.C. Roy, aged about 34 years, presently working as Assistant Legal Advisor, Securities and Exchange Board of India, Northern Regional Office, Bank of Baroda Building, 5th Floor, 16, Parliament Street, New Delhi 110 001, do hereby solemnly affirm and state as under: 1. I am fully conversant with the facts and circumstances of the

present case and am authorized and competent to depose to the present Affidavit on behalf of the Applicant. 2. I have gone through the contents of the accompanying

Application and say that the facts stated therein are true and correct to my knowledge as derived from the records maintained by the

Applicant and the submissions made therein are on advice received from the Advocates for the Applicant and believed to be true. 3. I say that the annexures to the Application are true and

correct copies of their respective originals.

DEPONENT VERIFICATION: Verified at New Delhi on this the 13th day of March, 2013 that the contents of paragraphs 1 to 3 of my above affidavit are true and correct, no part of it is false and nothing material has been concealed there from.

DEPONENT

IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION I.A. NO. OF 2013 IN CIVIL APPEAL NO.9813 OF 2011

IN THE MATTER OF: Sahara India Real Estate

Corporation Limited & Ors.

Appellants

Versus

Securities and Exchange Board of India & Anr. WITH CIVIL APPEAL NO. 9833 OF 2011 Respondents

Sahara Housing Investment Corporation Limited & Ors. Versus Appellants

Securities and Exchange Board of India & Anr. Respondents

AN APPLICATION FOR FURTHER DIRECTIONS IN TERMS OF ORDER DATED 31.08.2012 PASSED BY THIS HONBLE COURT

PAPER BOOK

(FOR INDEX : PLEASE SEE INSIDE)

ADVOCATES FOR THE APPLICANT/ RESPONDENT NO.1: M/S. K.J.JOHN & CO.

INDEX

SL. NO. 1.

PARTICULARS

PAGE(S)

An Application for further directions in terms of order dated 31.08.2012 passed by this Honble Court with affidavit in support. ANNEXURE A/1: Copy of chart showing the details of notices sent to the investors. ANNEXURE A/2: Copy of Fifth Status Report dated 12.03.2013 by SEBI (WTM) together with notes of Mr. Justice B. N. Agrawal which has been filed on 13.03.2013

1-22

2.

23

3.

24-31

[11]Please

check.