Sahara Group asked to submit title deeds worth Rs 20,000 crore as guarantee

The Supreme Court has directed the Sahara Group to give original title deeds of its assets worth Rs 20,000 crore to the Securities and Exchange Board of India (Sebi) as a guarantee towards the payment of investors' money amounting to Rs 24,000 crore, which its two real estate companies have collected under optionally fully convertible debentures (OFCD).

An apex court bench of K.S. Radhakrishnan and Justice J.S. Khehar on Monday said the Sahara Group will submit its original title deeds to Sebi along with their valuation reports.

The court has given the Group three weeks' time, till November 11, to comply with its order.

Sahara has already paid Rs 5,000 crore to the market regulator.

The court said in case of failure to submit original title deeds of their assets, Sahara chief Subrata Roy and other directors, who have been named as contemnors, will not leave the country without prior permission of the court.