Subrata Roy, two Sahara Group companies bank accounts ordered frozen by Sebi

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PTI: New Delhi, Feb 13 2013, 21:19 IST
Subrata Roy.jpg
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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Reader's Comments (3)| Post a Comment

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Sadanand Patwardhan | 14-Feb-2013Reply | Forward
It took repeated prodding from Supreme Court and even a concealed threat to act on its orders, before SEBI chief could act. SEBI's plea was it had no powers despite clear SC orders. http://searchlight-is-on.blogspot.in/2013/02/supreme-court-makes-sebi-besahara.html

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B.SURYANARAYAN | 14-Feb-2013Reply | Forward
it was good decision taken by the suprime court. Otherwise there is no control by the financial companies. this is good lession for the investors and companies.

Fe Comment

arupkumar das | 13-Feb-2013Reply | Forward
Well done sebi. Now pay up time for sahara. You can never escape from the misdeeds of your past.

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