The order came after the company failed to comply with Sebi’s direction in February this year ordering it to refund over Rs 7,000 crore to investors raised through illegal collective investment schemes (CIS).
This will be the third InvIT IPO to get launched after IRB InvIT and IndiaGrid InvIT that were launched earlier this month.
Sebi said that it would not initiate any enforcement action for the alleged defaults.
The regulator plans to allow Foreign Portfolio Investors (FPIs) to invest in unlisted non-convertible debentures and securities debt instruments, they added.
While Sahara group maintains that it had directly refunded nearly 95 per cent of the money to investors, it has also deposited a portion of the amount with Sebi.
REITs would be allowed to have a larger number of sponsors.
Sebi directed seven entities in Ruchi Soya Industries, and 52 entities in Exelon Infrastructure to escrow accounts.
These properties located in Rajasthan, Tamil Nadu, Madhya Pradesh, Uttar Pradesh, Bihar and Jharkhand. To recover dues orders these properties cannot be sold at less than 90 per cent of circle rates.
Currently, mutual fund distributors can register only one bank account while registering a client on the BSE StAR MF Platform.
The move comes after Sebi chairman U K Sinha issued a statement on the regulator’s plans to push for de-listing of over 4,200 listed companies whose shares are not being traded.
Sebi has decided to tweak the regulations to make them more attractive after incorporating some fresh suggestions from the industry and market players.
The Sahara properties will fetch around Rs 722 crore at reserve price and are are located in Andhra Pradesh, Tamil Nadu, Madhya Pradesh, Chhattisgarh and Uttar Pradesh.
There are six rating agencies in the country — Crisil, Fitch-promoted India Ratings, Icra and Care Rating, Brickwork and Smera Ratings.
SEBI announced, it will put in place stringent norms for high frequency trades along with higher penalties for misuse and initiate strong action against auditors for lapses.
The interim plea, which was filed in a pending PIL seeking CBI inquiry against Indian offshore bank account holders named in the Panama papers, was mentioned before the vacation bench by lawyer M L Sharma.