While Sahara maintains it has already repaid more than 93 per cent of the outstanding dues directly to the concerned bondholders and the remaining amount was just about Rs 2,500 crore (Rs 25 billion), it deposited Rs 5,120 crore (Rs 51.2 billion) to Sebi in December 2012 towards the investor refunds as per Supreme Court orders.
Sebi sets Sept 30 deadline to apply for Sahara refund
During Friday's proceedings, senior advocate Fali S Nariman, appearing for the Sahara group, said that Sahara was not a listed company and only the government has jurisdiction over it and not market regulator Sebi.
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.
The permission came after the court was satisfied that the transactions were in accordance with its June 4 order.
While the country is gripped by Ram Mandir frenzy, Danish Husain -- without shouting from the rooftops -- silently staged his opinion with this play on one of India's best-known poets, observes Neeta Kolhatkar.
The Trinamool Congress and the Bharatiya Janata Party on Monday targetted each other in Parliament, leading to clashes and walkouts. The TMC displayed in both Lok Sabha and Rajya Sabha the copies of some red diary, allegedly recovered from Sahara group chief Subrata Roy, and claimed that it contained the name of a BJP leader.
NBFCs which have not met Sebi criteria will face tough action.
Team co-owner Vijay Mallya said in a statement on Tuesday that the deal, which will make the cars stand out at the Australian season-opener next week, is one of the most significant partnerships in Force India's 10-year history.
India does not have a unified regulatory regime to counter Ponzi, or pyramid, schemes whose operators typically grab new deposits to meet their promise of guaranteed returns to existing savers, point out Manoj Kumar and Mayank Bhardwaj.
Sahara relied on a letter from bank saying the funds were there.
Air Sahara has launched its Sixer in Air scheme, offering six economy flight coupons for Rs 26,000.
The public sector carrier announced a new scheme -- 'Fly Select Fares' -- offering two levels of rates which were below the normal ones on select flights.
Thirty-five schemes are back in the dividend list in 2005, while 17 mutual fund schemes that paid dividends in 2004, have not announced any dividend as of yet.
.jpg)
Sebi has been engaged in a long-running case with Sahara group over refund of more than Rs 24,000 crore (about $five billion) collected by two Sahara companies from more than three crore investors through issue of certain bonds.
Sebi has been engaged in a long-running case with Sahara group over refund of more than Rs 24,000 crore (about $five billion) collected by two Sahara companies from more than three crore investors through issue of certain bonds.
The Bad Boy Billionaires series has a lot in common: The three billionaires' hefty ambition, dangerous arrogance and untrammeled power, observes Dhruv Munjal.
"My judicial custody in Tihar jail and being confined to a prison cell with just the basic amenities definitely came as a rude shock."
The success of the auction may not be more than a little step in Pearls Agrotech Corp's recovery process of over a Rs 49,100 crore plus interest
Value-carrier JetLite, formerly full-service airline Air Sahara, which was bought by Naresh Goyal last year, will offer a voluntary separation scheme to 750 employees who have been with the airline for one year or below, Chief Operating Office Rajiv Gupta confirmed on Friday.
Amidst speculation that liquor baron Vijay Mallya will take 100 per cent stake in Air Sahara, Kingfisher Airlines has kick started an advertising campaign to catch privileged passengers of its rival airline.
Air travel is likely to become costlier from October 14 with all major domestic airlines planning a hike of 10 per cent in line with the spurt in oil prices.
Jet Airways on Thursday announced a new package, including a special Monsoon Super Apex fare, on some metro sectors with immediate effect whereby a passenger could fly to metros like Mumbai -- from Delhi -- for just Rs 2,500.
Amount more than twice the size of Sahara's; collective investment scheme operator has 3 months to return money and wind up.
'Around 15 crore poor people have lost their money.'
Summing up the year gone by, Sebi Chairman U K Sinha told PTI that the regulator was also able to provide clarity and a direction to the market in areas like corporate governance and investor protection during 2013.
Meanwhile, RBI Governor Raghuram Rajan said at the meeting that the central bank brass discussed strengthening the state- level coordination committees so that unauthorised deposit taking can be dealt with in a better way.
The second-longest serving chairman introduced quite a few measures for the primary market and implemented a new corporate governance framework.
'Bhuvi's injury (stiff back) is a real setback for India' 'If the pitches remain flat and dry like the ones during the limited overs leg, India are in with a very good chance. But if it's a green top, obviously, the England seamers will come into the play'
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.
Rose Valley is one of the biggest money businesses after Sahara.
Specific sections of the Companies Act need to be amended to empower Sebi to regulate or take penal action against an unlisted entity and its promoters for violating the insider trading and other securities norms.
Surat had bagged the fourth rank under the Smart Cities Mission based on its proposal.
If Jatin Singh is right in the long run and his morphed business can help reduce farmer distress, Skymet will provide a service of far more value from where it began
'Under the present Defence Procurement Procedure, it would have been a nightmare, and a long, long one at that, to build 108 Rafales in India. Modi realised this and took the wise decision, though it is a definitive setback for his Make in India scheme.'
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances