SC issues notice to SEBI over Sahara group's plea

Posted By: Ria
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New Delhi, Nov 28: A notice has been issued to the securities and exchange regulator over a plea by Sahara group of companies which challenged the Securities Appellate Tribunal's award that directed the company to refund Rs 17,400 crore within six weeks. The Sahara group had collected money from the investors through Optional Fully Convertible Debentures.

Earlier, the court had asked the companies to inform about its financial status.

An apex court headed by Chief Justice SH Kapadia extended the date for the two companies -- Sahara India Real Estate Corporation and Sahara Housing Investment Corporation -- to refund the money till Jan 9. The deadline for refunding the money expired on Monday.

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