SEBI said it has cancelled the portfolio management licence held by Sahara Asset Management Company Pvt Ltd
JM Financial Asset Management (Gurgaon) requires two summer trainees for the managing and empanelment of Distributors.
Sahara group has been engaged in a long-running regulatory and legal battle with Sebi.
The NBFC was registered on December 1998, with an office in Lucknow.
Other London properties, aircraft & offshore accounts are yet to catch the attention of regulators.
Regulator Irdai on Friday directed SBI Life Insurance Company to takeover the policy liabilities of around two lakh policies along with assets of Sahara India Life Insurance Co Ltd (SILIC) with immediate effect. The decision was taken at the meeting of the Insurance Regulatory and Development Authority of India (Irdai) in view of deteriorating financial health of the SILIC. "The Authority has identified SBI Life Insurance Company Limited (SBI Life), which is one of the largest life insurers in the country with satisfactory financials, as the acquirer insurer of the life insurance business of SlLIC.
The Enforcement Directorate on Wednesday said it has attached in London, Dubai and India assets worth Rs 538 crore of Jet Airways founder Naresh Goyal, his family members and companies as part of a money laundering investigation linked to an alleged bank loan fraud. The attached properties include 17 residential flats, bungalows and commercial premises. Located in London, Dubai and various cities in India, these properties are in the name of various companies like Jetair Private Limited and Jet Enterprises Private Limited, Goyal, his wife Anita, and son Nivaan, the central agency said in a statement.
Spanish bank denies credit line to bail Sahara boss.
All four societies were under common management of the Sahara group and had collectively garnered Rs 86,673 crore, including more than Rs 47,000 crore collected by Sahara Credit Cooperative Society Ltd from nearly 4 crore depositors.
The group needs to rustle up Rs 5,000 crore in cash and an equal amount in bank guarantees for bail.
'My wife, family members as well as members of the workers will be trustees.' 'The trust will take all decisions -- no family member can individually take any decision.'
The permission came after the court was satisfied that the transactions were in accordance with its June 4 order.
Sahara and its founder Subrata Roy have been under scrutiny for years over its financial products, including for possible money laundering.
Suitors came with all-cash offers but were rebuffed
The Supreme Court on Monday gave conglomerate Sahara another three months to come up with a final proposal to raise funds against its assets to secure bail for its founder Subrata Roy, who has been held in a New Delhi jail for more than a year. Sahara has made several failed attempts to raise $1.6 billion in bail money. Roy was jailed after Sahara failed to comply with a court order to refund billions of dollars to investors in a bond programme that was ruled illegal. The Supreme Court last week gave Sahara, a sprawling conglomerate that ranges from property to Formula One motor racing, a final chance to raise funds in order to bail out Roy. On Monday, the country's top court allowed Sahara to sell part of its Aamby Valley township outside Mumbai, which has luxury villas and a golf course, to raise funds.
As many as 3,268 title deeds in Sebi's possession would undergo scrutiny and be prepared for sale.
Roy and his associates were jailed in March after he failed to appear at a contempt hearing in the long-running dispute with the capital markets watchdog over the company's failure to repay billions of dollars to investors who were sold outlawed bonds.
The Supreme Court on Wednesday said that the money likely to be arranged by Sahara Group from overseas to raise Rs 10,000 crore (Rs 100 billion) for the release of its jailed chief Subrato Roy would come into the country only after necessary clearances by RBI.
Sahara India needs to pay back $5.3 billion, raised from millions of small investors through the sale of bonds ruled by the Supreme Court to be illegal, before founder Subrata Roy can be released.
Both Jet Airways and Go First have met with a similar fate of landing up in insolvency, albeit for different reasons. Whether Go First will be able to avoid the sharp erosion in value like in the case of Jet, experts say, will depend on how quickly it is able to restart operations and retain its slots at airports. Go First, owned by the Wadia group, filed for voluntary corporate insolvency resolution on May 2 due to inadequate capacity utilisation that led to a cash crunch.
Sahara relied on a letter from bank saying the funds were there.
In a wide-ranging overhaul of rules to make India an easier, safer and attractive investment destination, Sebi on Tuesday unveiled a new set of streamlined entry norms for foreign investors, while putting in place checks against any wrongdoings by the company promoters.
Subrata Roy is in jail since March last year.
Three fund managers share their views and state where they are looking for value.
'A law firm checked credentials of Karan Ajit Judge and Nouam'
Subrata Roy turned up at a New Delhi stadium, best known for hosting the Commonwealth Games, last week as part of his country wide Abhaar Yatra.
A consummate deal-maker, the former Aircel boss raked in the moolah in many, but lost a packet in several others.
Old-timers say Jet boss Naresh Goyal, although still razor sharp, doesn't have the same energy he once did and this reflects in his 'baby'.
Tamal Bandyopadhyay discusses his latest book Bandhan: The Making of a Bank at Bandhan headquarters in Kolkata.
Few top honchos of India Inc did very well in 2014.
Tamal Bandyopadhyay, columnist and author of several books like From Lehman to Demonetisation: A Decade of Disruptions and Sahara: The Untold Story, tells Rediff.com why Yes Bank depositors should not panic and the current crisis at India's fifth largest private lender does not pose any systemic risk.
Things appear to be going from bad to worse for Vijay Mallya, once known as 'King of Good Times', with the board of a company he nurtured into India's largest liquor maker asking him to quit.
The UPA Government is trying to push through the second wave of airport privatisation before the elections and the controversial elements of this process threaten to harm the sector.
The government has provided a long-term vision.
A look at the life and times of maverick businessman Chinnakannan Sivasankaran
The capital markets watchdog has asked the government to empower it to carry out search and seizure operations, to attach properties and to ask for information and records for all relevant entities.
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