The SEBI-Sahara case entered a crucial phase as the Supreme Court agreed to hear the pleas of Sahara Group employees who seek payment of their long-pending salaries. The Court scheduled these pleas for November 17, the same day Sahara India Commercial Corporation Ltd. (SICCL) will present its request to sell 88 prime properties to Adani Properties Private Limited. The employees’ plea gained attention because many workers say they have not received salaries for months.
A Bench led by Chief Justice B.R. Gavai took up the matter and confirmed that these salary-related pleas will be heard along with the main SEBI-Sahara case. Lawyers representing the employees urged the Bench to address their concerns urgently. The CJI responded positively and ensured a joint hearing.
The Court previously sought responses from the Centre, SEBI, and other stakeholders to SICCL’s request for permission to proceed with the property sale. Solicitor General Tushar Mehta stated that the Union Ministries of Finance and Cooperation should be part of the proceedings. The Court accepted this and directed both ministries to file their replies before November 17.
Senior advocate and amicus curiae Shekhar Naphade received instructions to compile complete details of the 88 properties proposed for sale. The Bench also asked him to study each property’s status, including whether they are encumbered or disputed. The Court noted that it will later decide whether the sale should happen in parts or as a single block.
The Bench also asked the Sahara Group to verify salary claims made by employees. It instructed the amicus to examine the issue of arrears and present findings on the next hearing date. All related applications, including intervention pleas, will come up for final consideration on November 17.
