The Securities and Exchange Board of India (SEBI) has questioned the Bombay Stock Exchange (BSE) the basis on which it gave a certificate to the Sahara group on the ‘listability’ of optionally fully-convertible debentures (OFCDs).
The Securities and Exchange Board of India (SEBI) has filed an application before the Supreme Court seeking an extension of deadline in the Sahara case.
Sahara India Real Estate Corporation had garnered investments from over 2 crore investors through three separate securities, according to an affidavit the company filed on Wednesday, September 14.
The Securities Appellate Tribunal (SAT) on Thursday, September 8, said if a company decides to raise money from 50 or more people, it must list the securities on a stock exchange to protect investors’ interests.
Why did the Central Government register its debenture-issue prospectus and then take well over a year to suddenly say it didn’t agree, asked counsel for the Sahara group of companies at the Securities Appellate Tribunal (SAT) today.
The Government has supported the Securities and Exchange Board of India (SEBI) in the case against two Sahara group firms that raised money from the public by issuing optionally fully convertible debentures (OFCD).
The police has been asked to verify complaints from Mumbai-based investors against the PACL realty; firm denies any wrongdoing.
Sahara India Group has criticized market regulator SEBI’s move to make its order public when the matter is pending before the Supreme Court.
The Lucknow bench of the Allahabad high court will hear the Sahara Group versus Securities and Exchange Board of India (SEBI) case only after the capital markets regulator completes its probe.
SEBI can examine financial instruments used by two companies of the Sahara Group to raise money from the public after India’s top court dismissed its petitions on Thursday.