The Supreme Court on Monday agreed to hear a fresh plea concerning the payment of pending wages to Sahara Group employees. The matter, linked to the long-running SEBI v. Sahara case, was mentioned before a bench led by Chief Justice BR Gavai, along with Justices K Vinod Chandran and Atul S Chandurkar. Counsel appearing for the employees said more than ₹16 crore in salaries remain unpaid.
Background
The Sahara controversy is not new. Back in 2012, the Supreme Court had directed two Sahara companies to refund around ₹25,000 crore, with 15% interest, to millions of small investors who had put money into debentures between 2008 and 2011. The money was ordered to be deposited with the Securities and Exchange Board of India (SEBI). When Sahara failed to comply fully, contempt petitions followed.
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For years, the court has monitored Sahara’s financial dealings. Most recently, on September 5, 2024, the Court asked the group to deposit ₹1,000 crore into an escrow account within 15 days. It also gave Sahara permission to form a joint venture for developing its Versova, Mumbai property to raise up to ₹10,000 crore.
On Monday, the counsel representing the employees requested that the matter of unpaid salaries be urgently listed. “We have filed an application relating to the payment of wages of employees in Sahara. Sixteen crores of wages have to be paid. This application is pending in the contempt petition, mylords. Kindly get it listed on Friday,” he said.
The bench took note of the submission. Although no detailed hearing took place today, the judges were attentive to the plea, which falls within the broader contempt proceedings already underway against the Sahara Group.
Decision
The Supreme Court agreed to consider the request for listing and is expected to hear the application later this week. The order, if passed, will directly affect thousands of Sahara employees who have been waiting for their dues amid the group’s mounting legal and financial troubles.
Case: Securities and Exchange Board of India (SEBI) vs. Subrata Roy Sahara & Others
Case Type: Contempt Petition (Civil)
Case Numbers: CONMT.PET.(C) No. 1820–1822 of 2017 and connected matters
