Supreme Court issued notice to SEBI on Sahara companies' plea
PrintListen to this Article
The Supreme Court Monday issued notice to the securities and exchange regulator on a plea of two Sahara group companies which challenged a Securities Appellate Tribunal's (SAT) award directing them to refund Rs.17,400 crore they had collected from investors through Optional Fully Convertible Debentures.
An apex court bench headed by Chief Justice S.H. Kapadia extended till Jan 9 the date for the two companies -- Sahara India Real Estate Corporation and Sahara Housing Investment Corporation -- to refund the money.
The SAT, by its order, had directed the companies to refund the money within six weeks, which deadline expired Monday. On the two companies' appeal, the court issued notice to the Securities and Exchange Board of India (SEBI), the regulator.
The apex court also asked the two companies to inform it about their financial status and how had they secured the investors' money. (Economic Times)
Category : SEBI | Comments : 0 | Hits : 223
SEBI Mandates AIFs to Upload NAV Data on Depository Platforms To strengthen disclosure standards and streamline processes, the Securities and Exchange Board of India (SEBI) has instructed Alternati...
India's securities regulator has accused current and former executives at the local units of PwC and EY, among others, of breaching insider trading rules involving a 2022 share sale by Yes Bank, a...
A financial influencer, also known as finfluencer, who was also involved in imparting training related to stock market trading has been asked to part with a little over ?12 crore, which it made unlawf...
Comments