Business Standard

SAT to hear Sahara appeal today on deadline extension

Related News

The Securities and Appellate Tribunal (SAT) on Thursday will hear an appeal by two Sahara group firms, which had sought extension in time for submission of documents related to their bondholders to market regulator Securities and Exchange Board of India (Sebi).

These appeals were filed about a month ago by Sahara Housing Investment Corporation Ltd (SHICL) and Sahara India Real Estate Corporation Ltd (SIRECL).

According to the information available with SAT, the appeals by the two companies are listed for “admission” on Thursday.

Incidentally, a deadline set by the Supreme Court in its order dated December 5 for submission of investor documents by the Sahara group to Sebi, also expires tomorrow.

The two companies had also filed another appeal on November 19 for allowing deposit of money with the registrar of SAT. However, this appeal was dismissed by the tribunal on November 29.

Thereafter, the two companies had approached the Supreme Court against the order. After hearing their appeal, the Supreme Court on December 5 directed the two companies to refund the outstanding payments to the investors with 15 per cent interest in phases in nine weeks.

While the companies were asked to make an immediate payment of Rs 5,120 crore, the court also asked them to pay the first instalment of Rs 10,000 crore by the first week of January and the remaining by the first week of February.

Read more on:   
|
|
|
|

Read More

Two entities fail to make prima facie case to revoke ban: Sebi

The Securities and Exchange Board of India (Sebi) today said the restraining order on two entities, related to plunge in some mid-cap stocks in July, ...

Quick Links

 

Market News

Business as usual resumes for markets

Economists do not expect the referendum result to impact economic data flow

Yahoo rakes in another jackpot from Alibaba's IPO

Yahoo is in line to make anywhere from $8.3 billion to $9.5 billion from the initial public offering

India Vix touches all-time low of 11.88

This indicates that investors remain optimistic that the market will continue to trend upward

MCX-SX to approach CCI against rival BSE

Low transaction fees in BSE's currency derivative segment anti-competitive, alleges MCX-SX

PFRDA sets up an expert committee to assess investment guidelines

The panel will review current investment guidelines for NPS schemes for private sector and recommend changes or new schemes

Back to Top