Truckload of threat
The Reserve Bank of India (RBI) recently moved the Supreme Court, seeking directions on alleged violations by the Sahara group while selling certain securities.
When the RBI counsel wanted the court to include in the directions that the group produce the names of people who received the refunds from the sale proceeds of such securities, the judge expressed concerns; saying, "Tomorrow, they will send a truck full of documents here. They have already given enough trouble to Sebi." It was finally decided that Sahara would submit the details of depositors in a CD.
When the RBI counsel wanted the court to include in the directions that the group produce the names of people who received the refunds from the sale proceeds of such securities, the judge expressed concerns; saying, "Tomorrow, they will send a truck full of documents here. They have already given enough trouble to Sebi." It was finally decided that Sahara would submit the details of depositors in a CD.
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First Published: Mar 02 2015 | 10:13 PM IST