SEBI chief reacts on Sahara related matters
New Delhi:
Securities and Exchange Board of India (Sebi) chairperson Madhabi Puri Buch said on Thursday that the capital market regulator will continue its case against the group even after the death of Sahara founder Subrat Roy. Speaking to reporters on the sidelines of a FICCI event, Buch said that for SEBI, the case is about the conduct of an entity and it will continue whether a person is alive or not. Let us tell you that Sahara Group founder Subrat Roy passed away on Tuesday. He was ill for a long time.
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It is worth mentioning that the head of Sahara Group K Subrata Roy After the demise of SEBI, capital market regulator SEBI’s account of Rs. The undistributed amount of over 25,000 crores has become a topic of discussion again. Roy faced several regulatory and legal battles regarding his group companies. It also includes allegations of circumvention of rules in Ponzi schemes. However, his group has always denied these allegations.
SEBI had earlier ordered
Capital markets regulator Securities and Exchange Board of India (SEBI) in 2011 allowed two Sahara group companies, Sahara India Real Estate Corporation Limited (SIREL) and Sahara Housing Investment Corporation Limited (SHICL) to alternatively issue bonds in the form of fully convertible bonds. was (OFCDs). The money collected from around three crore investors through some identified bonds was ordered to be returned.
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