Sahara: Sebi orders accounts freezing, attachment of property

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PTI: Mumbai, Feb 13 2013, 21:43 IST

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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Reader's Comments (4)| Post a Comment

That's sad news

Megha | 21-Feb-2013Reply | Forward

How can sebi do this? Sahara India has already returned money to most of its investors, by depositing to SEBI would mean paying twice. Which would be very unfair for the company.

Why did It take SEBI this much time? is it following the better late than NEVER/???

sprout | 14-Feb-2013Reply | Forward

Good job! congrats! SAVE INDIAN INVESTORS from the hands of those who are taking then for a ride.God bless those in SEBI to go after these kind of ----------

Mr. FRAUD SUBARTO RAI

Dr. Anil Khari | 14-Feb-2013Reply | Forward

This should have been long not only by SEBI, but also by competent authorities of Government of India, that unfortunately is a puppet in the hands of such groups like Sahara, Relience and many other fraud companies. The Fraud MR. SUBARTO RAI has transferred money to Swiss Bank, poor Indian investors and even any court or judiciary can not do any thing.