Sebi extends bid deadline for verification job in Sahara case
Sebi had floated a tender on November 2 and had earlier asked the PSBs and KRAs to submit their applications by November 22.
However, Sebi has now decided to extend the deadline for submission of bids to December 21, and would open the technical bids on the same day. Earlier, the technical bids were scheduled to be opened on November 22, while a pre-bid meeting was held by Sebi with the interested parties on November 7.
The selected ‘in-person verification (IPV) agency’ would be mandated for face-to-face to interaction with all investors in the Sahara case to ascertain their genuineness. Sebi has been mandated by the Supreme Court to facilitate a refund of about R24,000 crore with 15% interest to the bondholders of two Sahara group firms after ascertaining their genuineness.
In August 31 order, the Supreme Court had asked Sebi to ascertain the genuineness of an estimated three crore bondholders of optionally fully convertible debentures (OFCDs) of Sahara Housing Investment Corporation and Sahara Real Estate Corporation and thereafter facilitate the refund along with the interest.
In this regard, Sebi has decided to carry out in-person verification of these bondholders, for which it is seeking the services of an IPV agency.
The KRAs are authorised agencies to carry out
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