Sahara Case

U/s 73(1) of the Companies Act, organizations have to make an application for SE listing before issuing OFCDs

CLR Editorial Notes: This refers to the OFCD subscription offer made by Sahara Group and the subsequent litigation by SEBI in lieu of non-compliance and intentional bypass of SEBI Guidelines. The Sahara Companies, issued that the invitation/offer to subscribe to the OFCDs 3 crore persons (expressed as 30 million persons by the SAT), through 10 lakh… Read More

Tags: Companies ActIndiaRegistrar of CompaniesSahara CaseSahara India PariwarSEBISecurities & Exchange Board of IndiaSupreme CourtThe Companies Act 1956

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