SEBI freezes Sahara accounts

The Securities and Exchange Board of India has frozen approx 100 accounts of Sahara India Real Estate Corporation and Sahara Housing Investment Corporation on Wednesday after Sahara Groups failed to refund the investors. Sahara Group had to pay nearly Rs 24,000 crore to the investors as ordered by the honourable Supreme Court

SEBI also froze bank and demat accounts of Sahara Group’s chairman Subroto Roy, along with directors Vandana Bhargava, Ravi Shanker Dubey and Ashok Roy Choudhary.

In two separate orders, SEBI said Sahara Housing Investment Corporation Ltd and Sahara India Real Estate Corporation Ltd had raised fund of Rs 6,380 crore and Rs 19,400 crore respectively from the investors through bonds and many illegal process.

• About the Author

About Sprightly Spirit

“I dare do all that may become a man. Who dares more is none”. And all, may be. It may be the vigor. Or the spirit. Or the courage to avoid being “politically correct” or bent. And, ban all averse with immaculate overture of graciously fathomable words firm in views. Subtle. Justifying the undying conscience. Values. Knowledge. And, dares to stay true. True to own. True to the world. And, to the words. With a dream in eyes it exists. In you. In me. In all. The sprite that never shies away. The spirit that never dies!