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Patna: The Patna high court on Tuesday asked the Securities and Exchange Board of India (Sebi) to furnish an explanation as to why the huge funds of Rs 24,000 crore deposited by Sahara group of companies are lying idle and not disbursed for making repayments to the investors.
A single bench of justice Sandeep Kumar, while hearing an anticipatory bail plea of one Prem Kumar Saini and others, directed the Sebi to file an explanation on or before March 22. It also ordered personal appearance of a “responsible” Sebi officer on the next date for hearing in the matter on March 28.
Senior lawyer Umesh Prasad Singh, while appearing for Sahara, informed the court that in light of the orders of the Supreme Court, Rs 23,191 crore of Sahara group was deposited with SEBI. “With interest charges on such deposits, the amount exceeds Rs 24,000 crore. Yet, the major chunk of money has not been paid top the Sahara investors by Sebi, which is merely a trustee of the Sahara funds. There is neither legal impediment nor any order of the Supreme Court that restrains Sebi from utilising funds for making repayments to the Sahara investors,” Singh told the court.
Sebi counsel Pradeep Kumar said repayments of about Rs 128 crore have already been made to Sahara investors. He informed the court that his client has filed an application before the Supreme Court seeking direction for utilisation of the funds.
The court categorically asked Sebi to either show any order of the Supreme Court restraining the use of such funds or ensure the repayment of the same to the Sahara investors.
In its previous orders, the HC had observed that those investors whose deposits have matured but they have not been repaid by Sahara group may file their applications along with their claim papers. By Tuesday, at least 208 applications had been filed for repayment.
In a shocking development, YouTuber Praneeth Hanumanthu has become embroiled in controversy following his detention by the Telangana Cyber Security Bureau. Initially arrested for making offensive remarks during a podcast, Hanumanthu's predicament has escalated, resulting in further allegations under the Narcotic Drugs and Psychotropic Substances (NDPS) Act after he tested positive for cannabis consumption. The Context of the Detention The origins of Hanumanthu's difficulties can be linked to a podcast he hosted, which included a conversation that many considered highly unseemly. During this episode, he made inappropriate comments regarding the dynamics between a father and daughter, igniting outrage among viewers and critics alike. This incident quickly garnered the attention of both the public and law enforcement, prompting an investigation by the Telangana Cyber Security Bureau. The primary allegation centered around his remarks, which were deemed to have crossed the boundaries of acceptable discourse. This scenario raises broader inquiries about accountability and the duties of content creators, particularly in an era where online platforms can amplify messages to a large audience. As a public figure, Hanumanthu's statements carry substantial weight, and the backlash he has encountered signifies society's increasing intolerance towards harmful rhetoric. Charges Related to Substances Things took a turn for the worse for Hanumanthu when, following his arrest, authorities opted to perform a drug test. The results confirmed the presence of cannabis in his system, leading to additional allegations under the NDPS Act. This legislation is a strict law in India aimed at combating substance abuse and trafficking. By testing positive for drug use, Hanumanthu not only worsened his legal troubles but also further tarnished his reputation. The addition of drug-related charges initiates an important discourse about the effects of substance use among influencers and celebrities. Many young individuals look up to figures like Hanumanthu, and such disclosures can have significant consequences on their perceptions and behaviors. The fallout from his actions extends beyond legal issues; it also encompasses the ethical obligations that accompany public visibility. Reactions from the Public and Consequences The public’s reaction to Hanumanthu's arrest has been varied. Many viewers voiced their outrage over both his initial remarks and his later substance use. Social media has been inundated with discussions, memes, and criticisms, illustrating the swift spread of information and opinions in today’s digital environment. Critics contend that individuals like Hanumanthu should be held accountable for their influence, particularly when it concerns endorsing a healthy lifestyle and responsible behavior. On the other hand, some supporters have rallied behind him, advocating for the necessity of empathy and understanding. They highlight the pressures that accompany being a public figure, especially in a hyper-connected world where every action is scrutinized. This divide in public sentiment mirrors a broader societal conversation about celebrity culture, accountability, and the intricacies of mental health and substance use. The Wider Picture of Substance Abuse Hanumanthu's situation is also part of a larger discourse regarding drug abuse in India, especially among the youth. As discussions about mental health and substance use become more widespread, incidents like this underscore the pressing need for awareness and education about addiction and its root causes. The stigma surrounding drug use often hampers open dialogue about the topic, leaving many to endure in silence. Moreover, the legal implications of the NDPS Act spark questions about how society addresses drug-related offenses. While the act aims to deter substance abuse, critics argue that such laws can disproportionately impact certain demographics and do not tackle the underlying causes of addiction. Conversations around harm reduction, rehabilitation, and public health strategies are increasingly relevant within the framework of these laws. Prospects Ahead for Hanumanthu As Hanumanthu navigates the forthcoming legal hurdles, his future remains unpredictable. He faces possible legal repercussions for both his unsatisfactory comments and his substance use, which could greatly affect his career and personal life. The scenario serves as a cautionary example for content creators about the consequences of their expressions and actions, highlighting the need for thoughtful engagement with their audience.…
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