Sahara India Real Estate Corp has blamed the market regulator Securities and Exchange Board of India (SEBI) for taking up the issue of Sahara group of companies mopping up Rs 17,400 crore through debentures and ordered their refund. Sahara has this plea before the Supreme Court on Wednesday. Senior counsel Fali Nariman, appearing for Sahara India Real Estate Corp, told the apex court bench of Justice KS Radhakrishnan and Justice JS Khehar that the SEBI took up the matter even though there was no complaint from any investor.

The SAT on Tuesday, September 6, rejected an application by an investor of Sahara Housing Investment Corp to become a party in the ongoing dispute between the Sahara group companies and the market regulator SEBI.