SC notice to Sahara firms on SEBI’s contempt plea

Posted On & filed under Top Law News.

The Supreme Court Wednesday issued notice to Sahara Group’s two real estate companies on a petition by the Securities and Exchange Board of India seeking contempt proceedings against them for their failure to comply with Dec 5, 2012, order of the apex court. The apex court order of Dec 5, 2012, asked the market regulator… Read more »

SC stays proceedings on Sahara group & Subrata Roy’s petition

Posted On & filed under Corporate Law News.

Proceedings on plea filed by the Sahara group and its chief Subrata Roy has been stayed by the Supreme Court here in New Delhi. The plea was filed against refunding Rs 24,000 crore to investors and attachment of their properties after the Sebi accused them of approaching different forums for delaying the process. A bench comprising by justices KS Radhakrishnan and JS Khehar… Read more »

SC stays proceedings on Sahara group & Subrata Roy’s petition

Posted On & filed under Corporate Law News.

Proceedings on plea filed by the Sahara group and its chief Subrata Roy has been stayed by the Supreme Court here in New Delhi. The plea was filed against refunding Rs 24,000 crore to investors and attachment of their properties after the Sebi accused them of approaching different forums for delaying the process.   A bench comprising by justices KS Radhakrishnan and JS… Read more »

SC agrees to give early hearing to SEBI plea against Sahara

Posted On & filed under Corporate Law News.

Here in New Delhi to give an early hearing to SEBI’s plea seeking its permission to detain Sahara Group’s chairman Subrata Roy Sahara the Supreme Court has got agreed and also to initiate contempt proceedings against him for not complying with its orders to refund Rs. 24,000 crore to investors. A bench headed by Justice K S Radhakrishnan posted the… Read more »

Will refund Rs 24k cr to investors in 3 mths: Sahara

Posted On & filed under Top Law News.

Sahara Group today assured the Supreme Court that its two companies, which had raised Rs 24,000 crore through Optionally Fully Convertible Debentures (OFCDs) from their investors, will refund the amount within three months. “We will refund the amount. There is no question of going back,” Senior Advocate Gopal Subramaniam, appearing for the company, told a… Read more »

SC directs Sahara Group to refund 17,400 cr to investors

Posted On & filed under Top Law News.

In a major setback to the Sahara Group, the Supreme Court today directed two of its companies to refund around Rs 17,400 crore to their investors within three months with 15 per cent interest. A Bench of Justices K.S. Radhakrishnan and J.S. Khehar directed the Securities and Exchange Board of India to take action against… Read more »