The Allahabad High Court, led by Justice Subhash Vidyarthi, held that the correctness of allegations cannot be tested under Section 482 CrPC, dismissing Sahara’s plea to quash the Enforcement Directorate’s money laundering investigation.
On Thursday(5th September),The Supreme Court directed Sahara Group to deposit Rs 1,000 crore into an escrow account within 15 days and permitted a joint venture to develop its Versova land, aiming to realize Rs 10,000 crore. This amount is required to be deposited into the SEBI-Sahara refund account to return investors’ money as per a 2012 court order.
