Sahara group of companies
Sahara Group companies presented a new application to Supreme Court seeking extension of time till February 20 to submit documents related to debentures to SEBI. As Sahara group has a debt of over 22 million to repay to its investors and it looks like the only way the Sahara Group can repay its debt is [...] Continue Reading »
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 »
Sahara group of companies to face more trouble in future as ministry of corporate affairs (MCA) has expressed its support to market regulator Sebi’s June 23 order against the two companies of Sahara. Both Sebi and MCA work in tandem for protecting rights of small investors. Securities Appellate Tribunal (SAT) is scheduled to hear the [...] Continue Reading »
