"Sebi knew that if it duly conducts the validation process, it will leave red-faced and our claims will be proved right," he added.

Disapproving Sebi's action against his companies, Roy raised a series of questions saying that SEBI returned just Rs 50 crore to investors and it received demand of Rs 50 crore from investors whereas Sahara has paid Rs 14,000 crore.

SEBI has seized assets worth 20,000 crore, he added.

In fund irregularity case, Markets regulator SEBI would sell a total of 16 land parcels of the beleaguered group through e-auction next month at a reserve price of about Rs 1,900 crore.

Besides, the two are already scheduled to e-auction five properties each on July 4 and July 7 respectively at a reserve price of nearly Rs 1,200 crore.

At the reserve price, these auctions will take the total fund raising to at least Rs 3,100 crore.

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