Sahara India Pariwar

CLR Snippets | SEBI initiates process of refund to the genuine investors in the matter of Sahara

As per the order of the Hon'ble Supreme Court dated May 8, 2013, SEBI  has initiated the process of refund to the genuine investors who have submitted /would be submitting their claims, in the format (available at website www.sebi.gov.in),  after verifying the  genuineness  of the documents . The order of the Hon'ble Supreme Court dated May 8, 2013… Read More

Tags: InvestorSaharaSahara India PariwarSEBISecurities and Exchange Board of IndiaSubrata RoySupreme CourtSupreme Court of the United States

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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