Sahara Housing Investment Corporation
Supreme Court had earlier asked Sahara group companies to give bank transaction details of Rs 20,000-odd crore which they claimed to have refunded to investors. On August 31, 2012, Sahara Real Estate and Sahara Housing received direction from the Supreme Court to return more than Rs 24,000 crore to investors. The group on Tuesday said [...] Continue Reading »
Sahara has caught up in legal battle between Sebi and Supreme Court’s order to refund Rs 19000 crore to the investors. The firm is directed to deposit the amount with Sebi. In order to verify the authenticity of claims of repayment made by the two Sahara companies – Sahara India Real Estate Corporation and Sahara [...] Continue Reading »
Many projects of Sahara Group of Companies are under the freeze due to the actions by the Securities and Exchange Board of India (Sebi). The order by Sebi is based on an affidavit filed on behalf of Sahara India Real Estate Corporation and Sahara Housing Investment Corporation to the Supreme Court and in the document [...] Continue Reading »
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 »
Sahara India Real Estate and Sahara Housing Investment Corporation has been ordered by Supreme Court to collect nearly 15 percent of interest form all the 3 crore investors and has been granted a deadline of six weeks to complete the same. Also Sahara India Real Estate agreed for the court orders and have promised to [...] Continue Reading »
