 "Sebi issues notice to attach bank accounts of Sahara group's Subrata Roy")
The Securities and Exchange Board of India (Sebi) has issued a notice attaching the bank accounts, lockers, demat accounts, and mutual fund folios of two Sahara group firms, its chief Subrata Roy and three others.
The notice has been issued for non-payment of dues amounting to Rs 6.42 crore levied for flouting regulatory norms. Following a notice on December 7 for recovery of the dues, the capital market regulator had given 15 days’ time to the defaulters to pay the dues to avoid attachment of accounts.
In its order dated June 27, Sebi had penalized Sahara India Real Estate Corporation, Sahara Housing Investment, Subrata Roy Sahara, Ashok Roy Chaudhary, Ravi Shankar Dubey, and Vandana Bharrgava for violation in the issue of Optionally Fully Convertible Debentures (OFCDs). The penalty imposed is Rs six crore and the due amount includes interest and recovery cost.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%