Order
1. Permission to file additional documents, synopsis and list of dates is granted. Exemption allowed. Issue show-cause notice. Mr Arvind P. Datar, learned Senior Counsel, accepts notice on behalf of SEBI. The civil appeals shall stand over to 9-1-2012, as last item on Board.
2. By the impugned order Appeal No. 131 of 2011, the appellants have been asked by SAT to refund a sum of Rs 17,400 crores approximately on or before 28-11-2011. We extend that period up to 9-1-2012.
3. In the meantime, we are directing the appellants to put on affidavit, before the next date of hearing, the following information:
(a) Application of the funds, which they have collected from the depositors;
(b) Net worth of the companies which have received these deposits;
(c) Particulars of assets of the said companies against which the liability has been created. For that purpose, the appellants will produce the requisite financial statements consisting of the balance sheet and profit and loss account of the year ending 31-3-2011 and the statement of account up to 30-11-2011;
(d) The affidavit will indicate how the said companies seek to secure the liabilities which the companies have incurred and how they will protect the debenture holders;
(e) If returns have been filed under the Income Tax Act, 1961, the same may be annexed to the affidavit to be filed.