Sahara: Sebi orders accounts freezing, attachment of property

Feb 13 2013, 21:43 IST
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Subrata Roy-led Sahara group. Subrata Roy-led Sahara group.
SummarySubrata Roy, Vandana Bhargava, Ravi Shanker Dubey, Ashok Roy Choudhary accounts will be freezed.

to furnish details of all moveable and immoveable properties in their name within 21 days, pending which they can not alienate, dispose or encumber any of their assets.

The regulator said it is seeking attachment of all other movable and immoveable properties owned and/or held by the two companies SIRECL with immediate effect and asked them not to “alienate, dispose or in any manner encumber the same”.

Sebi also directed the two firms to furnish details of any other investments within 21 days and restrained them with immediate effect from operating their bank and demat accounts and from withdrawing of any investments.

The two companies have also been asked to deposit cash, bank balances and fixed deposits in their names to Sebi and have also been barred from transferring any shares held by them.

Sebi said it has informed RBI and Enforcement Directorate as well regarding its actions against Sahara group firms.

The assets being attached include investments of SIRECL and SHICL in group companies, special purpose vehicles and partnership firms and the necessary orders for sale of all attached properties would be passed in due course after getting their full particulars, Sebi said.

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