The Securities Appellate Tribunal (SAT) on Tuesday posted its final hearing on Sahara chief Subrata Roy's plea against Sebi's attachment order on 23rd of March.

Capital market Sebi last month had issued attachment orders against two Sahara group firms, viz. Sahara India Real Estate Corporation Ltd and Sahara Housing Investment Corporation Ltd as well as their top executives including Subrata Roy, after they failed to refund Rs 24,000 crore of investors' money that they had raised by breaching Sebi rules.

SAT Presiding Officer P K Malhotra yesterday heard both sides and posted the matter for final hearing on 23rd of this month. Senior advocate Ram Jethmalani sought interim relief for Roy but Mr. Malhotra refused to provide any interim relief Roy against the market regulator's attachment order.

In his ruling, Mr. Malhotra said, "The final hearing will be in Mumbai on March 23, 2013. In view of the early hearing granted, we do not consider it necessary to pass any interim order..."

In December last year, the Sahara group firms were allowed to deposit the money with Sebi in three installments - an immediate payment of Rs 5,120 crore, followed by the second installment of Rs 10,000 crore in January and the third installment of the remaining money in February.

Sahara group paid the first installment of Rs 5,120 crore to Sebi, but didn't pay the remaining two installments, claiming that what it had in the first installment was more than its total outstanding liability towards the investors of the two companies.