As instructed by the Supreme Court (SC), the much-awaited meeting between Sahara officials and Reserve Bank of India (RBI) to sort out whether Sahara India Financial Corporation Limited (SIFCL) can continue to accept deposits from the public took place on Thursday. Headed by Sahara chief Subroto Roy, a team of the officials of the company had a marathon meeting with senior RBI officials, which lasted over four hours. However, sources point out that the meeting to resolve the imbroglio remained inconclusive, and more rounds of such meetings are expected in the near future.
After the meeting, Roy refused to speak to mediapersons as he made a hasty exit from the RBI. On Monday, SC had directed RBI to give a fresh hearing to SIFCL as the residuary non-banking finance company had obtained a stay from Allahabad High Court against the banking regulator?s ban, disallowing the company from accepting fresh deposits.
