Sebi recovers ₹6.57 crore dues from Sahara Group, its chief Subrata Roy
1 year, 8 months ago

Sebi recovers ₹6.57 crore dues from Sahara Group, its chief Subrata Roy

Live Mint  

Markets regulator Sebi on Tuesday said it has recovered pending dues worth ₹6.57 crore from Sahara India Real Estate Corporation, its chief Subrata Roy, and others in the case pertaining to flouting norms in issuance of optionally fully convertible debentures. "In view of the payment of the amount of ₹6.57 crore due under the certificate, the said certificate is hereby completed," the Securities and Exchange Board of India said in its recovery order. The regulator in December ordered the attachment of bank and demat accounts of Sahara India Real Estate Corporation, Subrata Roy, Ashok Roy Choudhary, Ravi Shanker Dubey and Vandana Bharrgava to recover ₹6.42 crore for violating regulatory norms in the issuance of OFCDs. The case relates to the issuance of OFCDs by Sahara India Real Estate Corporation and Sahara Housing Investment Corporation during 2008-09.

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History of this topic

ED restitutes assets worth ₹4,025 crore in Bhushan Power and Steel case to JSW
1 week, 3 days ago

ED restitutes assets worth ₹4,025 crore in Bhushan Power and Steel case to JSW

The Hindu  

The Enforcement Directorate has restituted assets worth ₹4,025 crore to JSW, a Successful Resolution Applicant in the matter of the erstwhile Bhushan Power and Steel Limited under the Corporate Insolvency Resolution Process of the Insolvency and Bankruptcy Code. The assets were provisionally attached by the ED under Section 5 of Prevention of Money Laundering Act as the erstwhile promoters of …

SC asks Sahara Group to furnish list of top officials, properties for sale
3 months, 2 weeks ago

SC asks Sahara Group to furnish list of top officials, properties for sale

The Hindu  

The Supreme Court on Wednesday asked the Sahara Group to apprise it of its officials at the helm and the current shareholders besides the list of unencumbered properties which can be sold to realise ₹10,000 crore. In a series of directions on August 31, 2012, the top court had directed that Sahara Group firms – Sahara India Real Estate Corporation …

SEBI slaps ₹63 crore fine on Rana Sugars
3 months, 3 weeks ago

SEBI slaps ₹63 crore fine on Rana Sugars

Hindustan Times  

The Securities and Exchange Board of India has imposed a penalty of ₹63 crore on Rana Sugar Limited on the alleged charges of diversion of funds to its conduit and individual entities. In detailed orders, which included the operations details of the investigation into the transactions made by the RSL to its alleged conduit entities, SEBI investigation into the matter …

SEBI Imposes Rs 11 Lakh Fine On IIFL Securities For Compliance Failures
4 months ago

SEBI Imposes Rs 11 Lakh Fine On IIFL Securities For Compliance Failures

Live Law  

The Securities and Exchange Board of India has levied a fine of Rs 11 lakh on IIFL Securities Limited for breaches of various regulatory guidelines under the Securities Contracts Rules and associated SEBI circulars. The SEBI order highlighted that IIFL Securities violated multiple provisions related to margin trading and client fund management. The broker was found to have transferred securities …

SEBI Flags Rs 76,293 Crore In Dues As 'Difficult to Recover'
4 months ago

SEBI Flags Rs 76,293 Crore In Dues As 'Difficult to Recover'

News 18  

Capital markets regulator Sebi has segregated dues to the tune of Rs 76,293 crore under “difficult to recover” category at the end of March 2024, marking an increase of 4 per cent from the preceding year. As of March 31, 2024, Sebi identified 807 cases as DTR, with a total outstanding of Rs 76,293 crore, up from 692 cases amounting …

Rajasthan RERA Orders Refund To Four Homebuyers Of Sahara City Homes
4 months, 4 weeks ago

Rajasthan RERA Orders Refund To Four Homebuyers Of Sahara City Homes

Live Law  

Rajasthan Real Estate Regulatory Authority Bench, comprising Veenu Gupta, has directed Sahara Prime City Limited, the builder, to refund the amount paid by four homebuyers of the Sahara City Homes project, Jaipur after the builder failed to provide timely possession. Background Facts Homebuyers booked flat numbers B8/904, B5/502, C4/701, and C8/701 in the Sahara City Homes project situated in Jaipur, …

Dilip Khedkar disproportionate assets case: Complainant submits 2,000-page evidence to ACB
5 months ago

Dilip Khedkar disproportionate assets case: Complainant submits 2,000-page evidence to ACB

Hindustan Times  

Advocate Tanaji Gambhire, complainant in a disproportionate assets case related to Dilip Khedkar, father of IAS probationer Puja Khedkar, has submitted over 2,000 pages of evidence to the Anti-Corruption Bureau Pune division. Authorities had issued a suspension order to Dilip on February 24, 2020, after a departmental inquiry found that he threatened 300-400 small businessmen for extortion while posted in …

The Subrata Roy Saga: Sahara Group Calls Hansal Mehta's Series 'Abusive, Condemnable'
7 months ago

The Subrata Roy Saga: Sahara Group Calls Hansal Mehta's Series 'Abusive, Condemnable'

News 18  

Sahara Group has criticised the upcoming series titled “Scam 2010 – The Subrata Roy Saga”, calling it an “abusive and grossly condemnable act” and said it is contemplating “suitable legal action” against the makers. In a statement, Sahara India said the “aggrieved members” are seeking advice to take “suitable legal action against the producer, director and all those who are …

Sebi to question Zee top bosses Subhash Chandra and Punit Goenka: Report
10 months ago

Sebi to question Zee top bosses Subhash Chandra and Punit Goenka: Report

Hindustan Times  

The Securities and Exchange Board of India is set to question Zee Entertainment Enterprises' top management- founder Subhash Chandra an chief executive and managing director Punit Goenka- on the alleged fund diversion at the media firm, Economic Times reported citing two people in the know. In June last year, Sebi said that ₹200 crore from Zee were diverted through related …

Sahara investors protest against government failure to refund deposits
10 months, 3 weeks ago

Sahara investors protest against government failure to refund deposits

The Hindu  

February 01, 2024 08:40 pm | Updated 08:41 pm IST - NEW DELHI Hundreds of people who invested in four cooperatives run by the Sahara group protested in Delhi on February 1 against the government’s failure to refund the deposits. Ram Dulare, a sanitation worker from Delhi, said he had invested ₹2.5 lakh in the Sahara cooperatives six years ago …

Sebi orders Raju and others to pay back Rs 1,747 crore in Satyam case
1 year ago

Sebi orders Raju and others to pay back Rs 1,747 crore in Satyam case

Deccan Chronicle  

Hyderabad: Markets regulator Sebi has ordered former chairman of Satyam Computers Services B. Ramalinga Raju and five others to pay back Rs 624 crore of unlawful gains that were made in stock sale along with an interest of 12 per cent. Apart from Ramalinga Raju, others named in the order include his brothers B Rama Raju and B Suryanrayana Raju, …

SEBI to sustain action against Sahara even after founder’s death, says Buch
1 year, 1 month ago

SEBI to sustain action against Sahara even after founder’s death, says Buch

The Hindu  

The Sahara India matter would continue even after the death of the group’s founder and chairman Subrata Roy, Securities & Exchange Board of India chairperson Madhabi Puri Buch said on Thursday, a day after Mr. Roy passed away following illness in Mumbai. The investors will get their money back going forward,” Ms Buch said on the sidelines of an event …

Muthoot Finance to raise ₹700 crore via issue of non-convertible debentures
1 year, 3 months ago

Muthoot Finance to raise ₹700 crore via issue of non-convertible debentures

Live Mint  

Muthoot Finance Ltd on Thursday announced its 32nd series of public issue of secured redeemable non-convertible debentures of face value of ₹1,000 each. “Our 32nd NCD issue is open for subscription, and the interest rate offered on NCDs has been increased by 0.50%. This provides our investors a dual advantage of a higher rating and attractive interest rate ranging 8.75% …

SEBI (Settlement Proceedings) Amendment Regulations, 2023 | SEBI Empowers Panel Of Whole Time Members For Settlement Proceedings
1 year, 4 months ago

SEBI (Settlement Proceedings) Amendment Regulations, 2023 | SEBI Empowers Panel Of Whole Time Members For Settlement Proceedings

Live Law  

In a significant development, the Securities and Exchange Board of India has introduced an amendment to the Securities and Exchange Board of India Regulations, 2018, via the Securities and Exchange Board of India Regulations, 2023. The Securities and Exchange Board of India has exercised its powers under Section 15JB of the Securities and Exchange Board of India Act, 1992, Section …

Rel Home NCD holders claim BoB flouted SC order
1 year, 6 months ago

Rel Home NCD holders claim BoB flouted SC order

Live Mint  

MUMBAI : The debenture holders of Reliance Home Finance Ltd have issued a legal notice to state-owned Bank of Baroda, accusing it of engaging in foul play, and disregarding the directives issued in a recent Supreme Court ruling. “BoB, the lead bank of the inter-creditor agreement consortium, not only participated but also ensured the Supreme Court order is breached with …

Supreme Court Allows Disbursal Of Rs 5000 Crores From SEBI-Sahara Fund To Depositors; Former SC Judge To Monitor Disbursals
1 year, 8 months ago

Supreme Court Allows Disbursal Of Rs 5000 Crores From SEBI-Sahara Fund To Depositors; Former SC Judge To Monitor Disbursals

Live Law  

The Supreme Court on Wednesday allowed an application filed by the Central Government seeking allocation of ₹ 5,000 crore out of ₹ 24,979 crores deposited by the Sahara group with the Securities and Exchange Board of India to repay the dues of the depositors of the Sahara Group of Cooperative Societies.The Court ordered that out of the total amount of …

10 crore depositors of Sahara group to get refund from escrow account
1 year, 8 months ago

10 crore depositors of Sahara group to get refund from escrow account

The Hindu  

Following a petition by the Ministry of Cooperation, the Supreme Court on March 29 ordered the reimbursement from the Sahara-SEBI refund account to about 10 crore investors. The court ordered that out of the balance amount in the Sahara-SEBI refund account, ₹5,000 crore be transferred to the Central Registrar. Sahara Group’s four societies— Sahara Credit Cooperative Society Limited, Saharayan Universal …

10 crore Sahara group investors will get back their money with interest: Amit Shah
1 year, 9 months ago

10 crore Sahara group investors will get back their money with interest: Amit Shah

Op India  

On Wednesday, March 30, Union Home Minister Amit Shah assured that the 10 crore individuals whose investment is stuck in the four cooperative societies run by the Sahara group will get back their money with interest. The HM’s assurance came hours after Supreme Court allowed a plea by the Centre seeking allocation of Rs 5,000 crore, out of RS 24,000 …

SEBI orders attachment of bank, demat accounts of Sahara group firm, Subrata Roy, others
1 year, 11 months ago

SEBI orders attachment of bank, demat accounts of Sahara group firm, Subrata Roy, others

The Hindu  

SEBI on December 26 ordered the attachment of bank and demat accounts of Sahara Group firm, its chief Subrata Roy and others to recover ₹6.42 crore for violating regulatory norms in the issuance of optionally fully convertible debentures. The recovery proceedings against five entities—Sahara India Real Estate Corporation, Subrata Roy, Ashok Roy Choudhary, Ravi Shanker Dubey and Vandana Bhargava—for ₹6.42 …

Sebi orders attachment of bank, demat accounts of Sahara group firm, Subrata Roy, others
1 year, 11 months ago

Sebi orders attachment of bank, demat accounts of Sahara group firm, Subrata Roy, others

India Today  

Sebi on Monday ordered the attachment of bank and demat accounts of Sahara Group firm, its chief Subrata Roy and others to recover Rs 6.42 crore for violating regulatory norms in the issuance of optionally fully convertible debentures. The recovery proceedings against five entities -- Sahara India Real Estate Corporation, Subrata Roy, Ashok Roy Choudhary, Ravi Shanker Dubey and Vandana …

SEBI bars Bombay Dyeing, Ness Wadia, others from securities market for up to two years; imposes fines of ₹15.75 crore
2 years, 2 months ago

SEBI bars Bombay Dyeing, Ness Wadia, others from securities market for up to two years; imposes fines of ₹15.75 crore

The Hindu  

Securities and Exchange Board of India has barred 10 entities, including Bombay Dyeing & Manufacturing Company Limited and its promoters — Nusli N Wadia, Ness Wadia and Jehangir Wadia — from the securities markets for up to two years and levied a fine totalling ₹15.75 crore on them for being involved in a fraudulent scheme of misrepresenting the company's financial …

Sebi Imposes Penalty of Rs 1.6 Crore on Kotak AMC Managing Director Nilesh Shah, 5 Others
2 years, 5 months ago

Sebi Imposes Penalty of Rs 1.6 Crore on Kotak AMC Managing Director Nilesh Shah, 5 Others

News 18  

Capital markets regulator Securities and Exchange Board of India or SEBI, has imposed a fine of Rs 1.6 crore on seven entities and senior executives of Kotak Mahindra Trustee Company and Managing Director of Kotak AMC Nilesh Shah for flouting rules that were connected to to mutual funds while investing in Essel Group companies. “It is observed that Kotak AMC …

Sebi Imposes Rs 7-Crore Fine on NSE, Rs 5 Cr Each on Chitra Ramkrishna, Ravi Narain in 'Dark Fibre' Case
2 years, 5 months ago

Sebi Imposes Rs 7-Crore Fine on NSE, Rs 5 Cr Each on Chitra Ramkrishna, Ravi Narain in 'Dark Fibre' Case

News 18  

New Delhi: Capital markets regulator Sebi has penalised total 18 entities, including National Stock Exchange and its former chiefs Chitra Ramkrishna and Ravi Narain in the ‘dark fibre’ case. The case relates to the alleged differential access given to certain broking firms in the form of ‘dark fibre’ at NSE, to connect across the colocation facilities before other members. “W2W …

HC orders notice to SEBI on plea against DHFL
3 years, 5 months ago

HC orders notice to SEBI on plea against DHFL

Live Mint  

The Madras High Court on Tuesday ordered notice to the Securities and Exchange Board of India on a PIL demanding investigation by it into the alleged fraudulent activities of the Dewan Housing Finance Corporation Ltd. "According to the petitioner, investors may have lost in excess of ₹40,000 crore, with regulators, credit-rating agencies, auditors and others who were required to vet …

Appeal Against SEBI Order- NDTV Promoters To Deposit 50% Of The Amount To SEBI Within 4 Weeks: Securities Appellate Tribunal
3 years, 11 months ago

Appeal Against SEBI Order- NDTV Promoters To Deposit 50% Of The Amount To SEBI Within 4 Weeks: Securities Appellate Tribunal

Live Law  

A bench of the Securities Appellate Tribunal, Mumbai comprising of Justice Tarun Agarwala, Dr. CKG Nair and Justice MT Joshi in two similar orders directed the two NDTV promoters, Prannoy Roy and Radhika Roy to deposit 50% of the disgorged amount before the Securities Exchange Board of India within four weeks. The SAT was hearing two appeals preferred by the …

Sebi Orders Attachment of Bank, Demat Accounts of KKDIL, Others
3 years, 11 months ago

Sebi Orders Attachment of Bank, Demat Accounts of KKDIL, Others

News 18  

New Delhi: Markets regulator Sebi has ordered attachment of bank accounts as well as share and mutual fund holdings of KKDIL Nidhi Ltd and some individuals to recover dues totalling over Rs 35 lakh. In an attachment notice on Tuesday, Sebi ordered attachment of bank as well as demat accounts of KKDIL and others to recover the pending dues. The …

End relief to Sahara group, SEBI tells SC
4 years, 1 month ago

End relief to Sahara group, SEBI tells SC

The Hindu  

The Securities and Exchange Board of India has asked the Supreme Court to cut short the “long rope” given to the Sahara group and direct it to cough up ₹62,602.90 crore in dues or send its chief, Subrata Roy, to jail for contempt. “Direct the Saharas to forthwith deposit the balance amount of ₹62,602.90 crore as on September 30, failing …

SEBI moves SC for payment of ₹ 62K crore from Sahara firms, wants Subrata Roy in custody if not paid
4 years, 1 month ago

SEBI moves SC for payment of ₹ 62K crore from Sahara firms, wants Subrata Roy in custody if not paid

The Hindu  

Markets regulator SEBI has moved the Supreme Court seeking direction to two Sahara firms to pay ₹ 62,602.90 crore in compliance with the court’s earlier orders, failing which the group’s chief Subrata Roy be taken into custody. SEBI said the contemnors, Roy and his two firms — Sahara India Real Estate Corporation Ltd. and Sahara Housing Investment Corporation Ltd. — …

'Sahara Must Pay Rs. 62,602 Crore That It Collected From Public': SEBI Moves Supreme Court Seeking Custody Of Subrata Roy For Failure To Deposit
4 years, 1 month ago

'Sahara Must Pay Rs. 62,602 Crore That It Collected From Public': SEBI Moves Supreme Court Seeking Custody Of Subrata Roy For Failure To Deposit

Live Law  

The Securities and Exchange Board of India has moved Supreme Court against Sahara India Real Estate Corporation Ltd. and Sahara Housing Investment Corporation Ltd. for INR 62,602 crore which it had collected from the public.The Market Regulator seeks that the Contemner be held in contempt & be taken into custody, if it fails to deposit the said amount.SEBI. The Securities …

Sebi asks Sahara chief Subrata Roy to Pay ₹626 billion to avoid jail
4 years, 1 month ago

Sebi asks Sahara chief Subrata Roy to Pay ₹626 billion to avoid jail

Live Mint  

India’s markets regulator has petitioned the Supreme Court to direct tycoon Subrata Roy to pay ₹626 billion immediately, or cancel his parole if he doesn’t yield. The Securities and Exchange Board of India said the outstanding liability of the Sahara India Parivar group’s two companies and the group’s chief Roy stand at ₹626 billion, including interest, according to court filings …

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