Sahara likely to face music from other regulators too
fe Bureau: New Delhi, Feb 15 2013, 01:19 IST
for attachment of the assets is based on old facts and details of assets as of January, 2012. Since then, facts have changed in view of redemptions made by Sahara from time to time. This fact of redemption was known to Sebi. Hence, the order does not take into account the changed facts and circumstances.” According to the company, as per the SC's order, the liability to refund the money lies with SIRECL and SHICL. Hence, attachment of assets of individuals by Sebi is incorrect. It said that not only has the company paid Sebi amounts much higher than the outstanding liabilities of the two companies, “the fact also remains in the whole affair Sahara is genuinely concerned for investors”.
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