The Supreme Court has agreed to examine a petition filed by Sahara group employees demanding release of their long-pending salaries.
The petitioners argue that funds lying with SEBI—collected as part of the Sahara refund process—should be used to clear employee dues first.
The Court has issued notices to SEBI and other concerned authorities, seeking their response on how employees’ salary claims can be addressed.
SEBI-Sahara Case: SC Agrees To Hear Plea Of Employees Seeking Payment Of Pending Salaries
The plea of SICCL is already listed for hearing on November 17. On Friday, the CJI was urged by the lawyers that the interim pleas of employees be also listed on Monday as they have not received salaries for many months.
Summary
The Supreme Court on Friday agreed to list for hearing on November 17 interim pleas of employees seeking payment of their pending salaries from the Sahara Group companies.
On October 14, a bench headed by Chief Justice of India (CJI) B R Gavai sought responses from the Centre, the Securities and Exchange Board of India (SEBI) and other stakeholders on a plea of Sahara India Commercial Corporation Ltd. (SICCL) seeking permission to sell its 88 prime properties to Adani Properties Private Limited.
The plea of SICCL is already listed for hearing on November 17. On Friday, the CJI was urged by the lawyers that the interim pleas of employees be also listed on Monday as they have not received salaries for many months.
"Ok. They will be listed," CJI Gavai said.
Earlier, the bench, also comprising Justices Surya Kant and M M Sundresh, heard the interlocutory application (IA) of Sahara India Commercial Corporation Ltd. (SICCL) in the long-pending matter relating to the Sahara Group's refund obligations.
Taking note of the submissions of Solicitor General Tushar Mehta, the bench ordered that Union ministries of finance and cooperation be made parties to the present proceedings, and sought their responses to the plea by November 17.
It asked amicus curiae and senior advocate Shekhar Naphade to collate details of the 88 properties proposed to be sold by SICCL to the Adani Group company.
The bench asked the amicus curiae to also take note of the responses of other stakeholders with regard to these properties and give details about their nature, including whether the properties are clean or disputed.
The bench asked the Centre, the amicus curiae and SEBI to respond to the prayers made in the application by the Sahara firm.
"We will decide on whether the properties are to be sold piecemeal or in one flock," the CJI said.
The court directed the Sahara Group to examine the claim of the workers who have not been paid their salaries for many years. It also asked the amicus curiae to examine the matter of employees' salaries and arrears, and said it will consider it on the next date of hearing.
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It fixed all pleas, including the intervention application and the plea of the Sahara firm, for consideration on November 17.
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