NEW DEHLI: The Securities and Exchange Board of India on Friday moved the Supreme Court seeking the arrest of Sahara chief Subrata Roy.

According to Times Now, the Sebi has also sought the attachment of passports of Roy and two directors of the group.

The matter relates to a Supreme Court direction ordering refund of more than Rs 24,000 crore of investors' money raised by two Sahara group firms -- Sahara India Real Estate Corp Ltd and Sahara Housing Investment Corp Ltd -- through issue of bonds, wherein Sebi has been asked to facilitate the refund.

The apex court had passed its first order in this case on August 31, 2012 and Sebi was asked to facilitate the refund.

In December 2012, the group was allowed to pay the money in three instalments, including an immediate payment of Rs 5,120 crore, followed by an instalment of Rs 10,000 crore in January first week and remainder by February first week.

Saharas have paid Rs 5,120 crore to Sebi and claim that this amount itself is more than the total outstanding liability towards the bondholders of the two companies.

Sebi last month also issued public notices cautioning the general public and investors against dealing with the two Sahara group firms and their top executives due to an order for attachment of their assets.

On the other hand, Sahara Group has claimed that the actions taken by Sebi were based on "old facts" and the orders for attaching assets of individuals is incorrect on part of the market regulator.

