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Sebi's fresh Rs 14,000-crore refund order for Sahara group firm amount to 'double payment'
Countering the regulator's objection that all payments are to be done through banking channel, Sahara Group said it must be recalled here that, till 4 years back, as per the statement of World Bank and Reserve Bank, 50-60 per cent of Indians did not have bank accounts.
Refund Rs 14,106-crore with 15 per cent annual interest: SEBI to Sahara Group firm
In a 54-page order, the regulator has also barred SICCL, as well as its then directors including Subrata Roy Sahara and associated entities from the markets and from associating with any public entity for four years from the date of completion of refunds to investors.
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Sahara’s Aamby Valley auction: Anyone causing impediment will be sent to jail, says Supreme Court
The court was hearing a plea by market regulator Securities and Exchange Board of India (Sebi) which alleged that the group had allegedly obstructed the process by writing a letter to the Pune police raising the issue of law and order at the site.
Aamby Valley: Just two potential bidders for Rs 37k crore auction
The properties on auction include an integrated hill city township spread over 6,761.642 acres in the great Sahyadri mountain range, 1,409.865 acres of land surrounding Aamby Valley City Development and land measuring 321.656 acres within the Satara district.
SC refuses Sahara 2 more months to deposit Rs 966 crore
The bench, which also included justices Ranjan Gogoi and A K Sikri, directed the official liquidator of the Bombay High Court to proceed with the scheduled auction of the group’s Aamby Valley property in Maharashtra valued at Rs 37,392 crore.
Setback for Subrata Roy: SC rejects plea for more time, orders Sahara's Aamby Valley auction
The court's directions came after Roy said he had deposited Rs 533.20 crore in the Sebi-Sahara account and wanted to pay the remaining Rs 966.80 crore via cheques dated November 11.
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Process for Aamby Valley auction starts at Rs 37,392 crore reserve price
The auction will be conducted through MSTC Ltd. The Supreme Court on August 10 rejected Sahara chief Subrata Roy's plea to allow the firm to repay its investors till July 2019.
Sahara case: Supreme Court refuses to stay Aamby Valley auction
On July 25, the apex court had asked Roy to deposit Rs 1,500 crore in the Sebi-Sahara account, for repaying depositors, by September 7.
Subrata Roy urges SC for stay on auction of Aamby Valley project
The counsel, said the group had an alternate payment plan to offer and requested the court to put the auctioning process for Aamby Valley in Pune on hold. On July 25, the apex court had asked Roy to deposit Rs 1,500 crore in the Sebi-Sahara account, for repaying depositors, by September 7.
Supreme Court asks Subrata Roy to deposit Rs 1,500 crore by September 7
The bench, however, gave time till September 7 but directed Subrata Roy to pay Rs 1,500 crore by this date in the refund account. This will include the Rs 305.21 crore towards the cheque and the balance he owes to the refund account for investors.
subrata roy Photos
The rise and fall of Sahara chief Subrata Roy
From Re 1 deposits to Rs 1,50,000 crore assets – heres the full story of Subrata Roy.
Sahara chief Subrata Roy faces ink attack
A man threw ink on Subrata Roy as he was brought to the Supreme Court by the Lucknow police.
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Today in Pics: February 28, 2014
A fresh spell over rain on Friday brought the mercury down on the last day of February.
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