His proposal has recently run into some political snags, but he plans to push ahead with it, offering the lawyers higher commissions for making faster collections and giving them the power to seize property, freezebankaccounts and halt delivery of supplies to businesses.
Last month, SEBI said that Sahara had failed to deposit the money, so it passed orders to seize all properties and freezebankaccounts held by the two Sahara Group companies, Mr. Roy and two other founders.
The lawsuit on behalf of up to 100, 000 borrowers claims lawyers at Mel Harris then used those statements to obtain default judgments against the consumers and threaten to garnish their wages or freeze money in their bankaccounts.