Red Herring Prospectus
The recent Supreme Court ruling against Sahara Group implies an indictment of not only Sahara but the regulatory system as a whole. Sahara India Real Estate Corporation (SIREC) and Sahara Housing Investment Corporation (SHIC) were instructed by the Supreme Court to refund over Rs 24,000 crore collected through optionally fully convertible debentures (OFCDs). Sahara case [...] Continue Reading »
The Sahara Group seems to have taken the hit from the apex court. The Supreme Court has directed Sahara India Real Estate Corporation Ltd and the Sahara Housing Investment Corporation Ltd — to refund over Rs 24,400 crore collected from 2.21 crore depositors through an instrument known as optional fully convertible debentures. The Bench has [...] Continue Reading »
