Sahara group has been engaged in a long-running regulatory and legal battle with Sebi.
The Supreme Court has said that selling land or property is not a service under the Finance Act, 1994, so such sales cannot be charged with service tax.
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.
This lawsuit will have no bearing on its fund-raising exercise as a deal is already in final stages
From highways connecting once-remote regions to aviation networks carrying millions, India's infrastructure story is one of transformation.
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.
Five of these have wound up since, according to records of the Ministry of Corporate Affairs
'Around 15 crore poor people have lost their money.'
The Central Bureau of Investigation (CBI) will soon quiz Securities and Exchange Board of India (SEBI) Chairman U K Sinha as well as former head of the regulatory body M Damodaran in connection with a Preliminary Enquiry (PE) to probe granting sanction to Jignesh Shah-founded Financial Technologies (India) and MCX-SX.
Case relates to alleged irregularities in '08 sanction to MCX-SX; Shah grilled in NSEL case.
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